Shares of NTPC Limited surged over 4% on Monday, reaching all-time highs of ₹358.30 on the NSE during intraday trading. Notably, NTPC stock emerged as the top gainer among Nifty-50 stocks.
The robust power demand in the country is boosting the prospects of power producers like NTPC, with ongoing news about capacity expansions further enhancing earnings outlook and investor confidence.
In a recent development, the Board of Directors of NTPC approved investment for the Singrauli Super Thermal Power Project, Stage-III (2×800 MW), with an estimated cost of Rs. 17,195.31 crore.
With this project and others in the pipeline, NTPC’s group capacity has now surpassed 75 GW as of March.
Additionally, NTPC recently announced the successful completion of trial operations at Unit-2 of the North Karanpura Super Thermal Power Project in Jharkhand, adding to its installed capacity.
NTPC continues to be a top pick among analysts due to its expanding capacities and the strong demand for power. Analysts at Jefferies India Pvt Ltd particularly favor NTPC, estimating a significant increase in its power capital expenditure (Capex) and a rise in its non-fossil portfolio to 15 GW by FY26.
Jefferies also highlights NTPC’s plans for monetization through stake sales or IPOs over the next few years as additional triggers for growth. Their target price for NTPC stands at Rs415, valuing the company at 2.3 times consolidated Price to Book FY26 estimates, aligning with past upcycle averages.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of LegalParivar.com. We advise investors to check with certified experts before taking any investment decisions.
