Hydropower company of Indian folk region NHPC The share price increased to more than 5 percent in Thursday’s trading session after the brokerage firm CLSA upgraded the stock to the ‘High Convention Outperform’. Earlier, the firm had already rated the stock “outperform”.
CLSA has set a price target 117 for stock, its previous target decreased slightly 120.
Brokerage disrespects NHPC The shares double within the next four years, stating that the recent 25 percent fall in the last six months presents an attractive purchase opportunity for investors.
NHPC expansion plans
According to CLSA, the beginning of the Parbati 2 hydro project increased by 27% in regulated equity during the first quarter of the financial year.
Additionally, the NHPC aims to expand short -term regulated pump storage sector with a plan to invest. 84,000 crore to develop 20 GW pump storage capacity.
The CLSA NHPC’s regulated equity is estimated to double the FY24 and FY28, as the completion of major projects is expected to increase the growth of the company in the coming years in the coming years.
NHPC shares have fallen by 37 percent from their peak 118. On Monday, the stock was trading 4 percent more 77.75. However, it has fallen 5 percent in the first two months of the year.
NHPC to decide to get shares in PTC
NHPC Limited Power trading giants from other public sector institutions are set to take a decision soon about the acquisition of shares in PTC India. According to NHPC President and Managing Director Raj Kumar Chaudhary, the state -run company will communicate its decision to the Ministry of Power.
“Currently we have about 4% equity shares, and other companies also have about 4%. Some companies want to get out. NHPC It was asked whether it is also interested in getting out. Therefore, we have said that we are not interested in getting out of PTC shareholding … We will continue our investment in PTC. But the question is whether we are going to increase our grip in the company, “Chaudhary said.
He said, “We are discussing the matter within our organization, and very soon, we will tell the Ministry of Power whether we want to increase our holdings in PTC,” he said.
