NTPC Looks Well-Placed to Benefit From Transition to Renewable Energy -- Market Talk

Dow Jones01-04

0649 GMT - NTPC looks well-placed to benefit from India's transition to renewable energy, Axis Securities analyst Aditya Welekar says in a research report, as the brokerage initiates coverage of the stock with a buy rating and a target price of INR345.00. The energy conglomerate has an ambitious target of 60 gigawatts of RE capacity by FY 2032 versus 3.3 gigawatts currently, the analyst notes. NTPC has around 7.3 gigawatts of RE projects under construction and it has secured tenders and bilateral tie-ups for another 10 gigawatts of RE capacity, the analyst says. NTPC also plans new ventures to diversify from core operations into various green initiatives including green hydrogen, the analyst adds. Shares are 4.4% higher at INR319.80. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

January 04, 2024 01:49 ET (06:49 GMT)

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