The price of shares in the government energy company NTPC went up a lot on Thursday.
It went up by 5% to reach its highest-ever price of ₹321.70 during the day on the BSE stock market.
Over the past year, NTPC’s share price has gone up a lot, by 92%, and in the last six months, it increased by around 65%.
In November and December, the stock had significant growth of 11% and 19%, respectively.
Positive Opinion from Axis Securities
Axis Securities, a brokerage firm, thinks the stock could go up even more.
They started covering the stock with a “buy” recommendation and set a target price of ₹345, which is 13% higher.
They said, “We are positive about the company’s traditional thermal business, considering its price-to-book value ratio.”
NTPC Seen as a Good Investment
The brokerage firm thinks NTPC is a good investment for a portfolio.
They also mentioned the possible positive effects of future electricity demand increases and the value that could be unlocked through green energy IPOs.
Axis Securities is optimistic about the company’s growth prospects.
NTPC’s Future Plans
According to the brokerage, NTPC aims to have 60 GW of renewable capacity by the fiscal year 2032, up from the current 3.3 GW.
Currently, 7.3 GW of renewable projects are under construction, and the company has secured tenders and agreements for an additional 10 GW of renewable capacity.
This suggests a future pipeline of more than 20 GW in the near term.
