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Home STOCKS NTPC Share Price: Buy NTPC, goal price Rs 122: Emkay World

NTPC Share Price: Buy NTPC, goal price Rs 122: Emkay World

Emkay International has supplied a buy score to NTPC Ltd with a 12-month focus on price of Rs 122. The share price moved up by .94 per cent from its earlier close of Rs 96.10. The stock’s final traded price is Rs 97.
The brokerage has pruned its earnings estimates for FY21/22 to component in a one particular-time discount of Rs 13.6 billion made available to the discoms and lower capacity addition for FY21 (4.8GW in FY21 vs. ~5.5GW previously). It expects robust capacity addition during FY22/23.

Investment Rationale
For FY21E, the brokerage has reduced its capacity addition outlook for NTPC to 4.8GW vs. 5.5GW previously, factoring in the effects of the lockdown and low availability of workforce, which would postpone a few of its tasks to FY22. For FY22E, we hope NTPC to include 5.4GW capacity.
The brokerage cut its earnings estimates for FY21/22 by 16.8 for every cent/8.5 for each cent to component in a one particular-time discount of Rs 13.6 billion made available to the discoms and downward revision in capacity addition for FY21. Nonetheless, the brokerage carries on to keep its beneficial see primarily because of to attractive valuations of .8 situations FY22E P/B and risk-averse regulatory organization model. The corporation is also supplying a dividend yield of pretty much 4.5 per cent. Regulated equity is expected to see a CAGR of 10.2 for every cent more than FY20-23. The brokerage maintains the buy score, with a revised goal price of Rs 122 (vs. Rs120 earlier).
Crucial hazards incorporate any additional delay in capacity additions and decreased incentives.

Financials
For the quarter finished December 31, 2019, the organization reported consolidated sales of Rs 25412.39 crore, up 3.89 for every cent from final quarter sales of Rs 24459.70 crore and down -.31 for each cent from very last year’s similar quarter sales of Rs 25491.04 crore. The organization reported net profit after tax of Rs 3113.61 crore in the most recent quarter.
For the quarter ended December 31, 2019, the enterprise documented consolidated sales of Rs 25412.39 crore, up 3.89 for every cent from past quarter sales of Rs 24459.70 crore and down -.31 for each cent from very last year’s very same quarter sales of Rs 25491.04 crore. The company reported net profit right after tax of Rs 3113.61 crore in the newest quarter.
Promoter/FII Holdings
Promoters held 51.02 per cent stake in the organization as of March 31, 2020, when FIIs held 12.64 for every cent, DIIs 33.56 per cent and community & others 2.78 for each cent.

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