Deutsche upgrades NTPC to buy on volume growth

Deutsche Bank has upgraded NTPC to ‘buy’ from ‘hold’ on volume growth in power generation and a valuation cushion.

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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