March 12, 2018 . Equities Desk

NTPC is the largest power generation company in India, with an overall installed capacity of more than 51 GW. NTPC group contributed 24% to all India generation during FY17.

Valuation: We factor revenue/PAT CAGR of 8%/7% over FY17-20E. While RoE is expected to decline to 10.5% in FY18E, the same is expected to bounce back to 11.3% in FY20E. However, review of regulatory tariff plan for 2019-24 will be a key to watch out for. We maintain BUY rating on the stock with a revised target price (TP) of Rs. 188 based on 1.3x FY20E book value, an upside of 15%.

Research Report – NTPC Ltd.

Investments in equity shares, debentures, etc., are not obligations of, or guaranteed by Wealth India Financial Services Pvt. Ltd., and are subject to investment risks. Click here to read our full disclaimer.

Get FundsIndia’s articles delivered straight to your inbox!

Enter your email address to get:

  • Mutual fund recommendations from experts
  • Buy, hold or sell calls for stocks
  • Investment tips and tricks
  • All the latest news from

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.