NTPC share price up 3%; board to consider share buyback

NTPC

NTPC share price was up 3 percent intraday on October 27 after research firm CLSA maintained a ‘buy’ call on the stock with a target of Rs 140 per share.

The research firm is of the view that the company’s portfolio mix augurs well for healthy margin growth, according to a CNBC-TV18 report.

The company sees opex normalising from Q4 FY21 onwards, adding that improving exports sales outlook ex-US should drive margin expansion. The brokerage firm has raised FY21-23 EPS estimates by 1-3 percent.

At 1025 hours, the stock was trading at Rs 88.45, up Rs 2.55, or 2.97 percent. It has touched an intraday high of Rs 89.25 and an intraday low of Rs 87.10.

The state-owned power giant on October 26 said its board will on November 2 consider a proposal to buy back the company’s equity shares, the firm said in an exchange filing.

Last week, markets regulator Sebi granted exemption to NTPC from certain buyback norms for the proposed merger of its wholly-owned subsidiaries with the parent company.

News Source:- moneycontrol

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