Macquarie has initiated an outperform rating on NTPC, setting a target price of ₹475, indicating a potential upside from the current market price (CMP) of ₹380.30. The brokerage views NTPC as a strategic play on energy security and the transition towards renewable energy.
NTPC stands to benefit from both energy security and energy transition themes, offering a balanced mix of regulated capital expenditure and renewable energy exposure. The predominantly brownfield approach to thermal capacity expansion reduces the risk of execution slippage, while the potential for nuclear energy could serve as a long-term growth driver.
Macquarie also notes that NTPC has demonstrated solid performance over the past three years, and the stock’s visibility remains strong due to its diversified energy portfolio.
Disclaimer: This article is for informational purposes only and should not be considered as financial advice. Please consult a financial advisor before making any investment decisions.
