NTPC Stock Soars 5% to All-Time High on Strong Q1 Results and Broker Upgrades

NTPC shares jumped 5% to a record high of ₹412.7 on July 30 after posting strong Q1FY25 results. Analysts are mostly positive, expecting growth from thermal and nuclear power projects.

Jefferies’ View:

• Maintained ‘buy’ rating.
• Increased target price to ₹485 from ₹445.
• Expects earnings to improve with 9.6 GW of thermal power under construction and 15.2 GW to be awarded.
• Sees nuclear power as a growing opportunity.

JM Financial’s View:

• Reiterated ‘buy’ rating.
• Set target price at ₹451.
• Positive on thermal capex revival and growth in nuclear power and coal mining.

Kotak Institutional Equities’ View:

• Maintained ‘sell’ rating.
• Target price at ₹290.
• Believes current market price reflects growth potential but overlooks risks in renewable assets.

Q1FY25 Results:

• Revenue up 13.5% YoY to ₹44,419 crore.
• Profit increased 11% YoY to ₹4,511 crore.
• EBITDA rose 9.5% YoY to ₹12,466 crore.
• Margins dropped by 100 basis points to 28%.

Stock Performance:

• NTPC stock up over 31% this year, outperforming Nifty 50’s 14% rise.

Despite some mixed views, NTPC’s strong performance and growth prospects have driven its stock to new heights.