PINC Research has recommended hold rating on NTPC with a target of Rs 216, in its April 7, 2011 research report.
“During FY11 NTPC commissioned 2,490MW against its revised target of 3,150MW – in line with CEA’s estimate. During Q4FY11 the company commercialised 500MW each at Jhajjar and Korba, commissioned 500MW each at Farakka and Simhadri and synchronized 660MW at Sipat. With the commissioning of these projects, NTPC’s installed capacity increased to 34.2GW. NTPC plans to add 4,320MW during FY12. Contrary to NTPC’s target addition of 4,320MW during FY12, CEA’s latest document suggests NTPC shall be able to add only 3,000MW. NTPC plans to commission 1,320MW at Sipat, 1,000MW each at Jhajjar and Vallur and 500MW each at Simhadri and Mouda during the year. As of now we factor in an addition of 4,320MW, in line with the company’s target. NTPC currently has 14.7GW under construction which is expected to commission during the XIIth Plan.”
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