CLSA has maintained its high-conviction outperform call on NHPC with a target price of ₹117 per share, indicating a potential upside of around 41% from the current market price of ₹82.80. The brokerage said that while Q2 performance was impacted by shutdowns at the Parbati II and Teesta V hydro projects, the long-term outlook remains robust.
CLSA forecasted a 114% rise in regulated equity earnings (REE) between FY25 and FY28, a sharp improvement from the modest 2% growth seen over the past five years. With this step-change in REE, the brokerage expects NHPC’s earnings per share (EPS) to increase by 69% and return on equity (RoE) to expand by 419 basis points over FY25–27.
At the time of the report, NHPC shares were trading at ₹82.80.
Disclaimer: The views and target price mentioned are those of the brokerage firm (CLSA). This article is based solely on the provided inputs and is intended for informational purposes only. No investment advice.
