Deutsche Bank has upgraded NTPC to ‘buy’ from ‘hold’ on volume growth in power generation and a valuation cushion.
AFP
The bank said that volume recovery due to high base of hydro and nuclear energy and low availability of low-cost energy would bring back operating leverage for the company.
The research house has reduced target price to Rs 185 from Rs 190 to factor rising receivables.
At 11:27 a.m, shares of NTPC were up 1.19 percent at Rs 161.60.
Reuters