The multinational US-based brokerage firm has assigned a price target of Rs 265 for the power sector company, which implies a potential upside of over 42% from the previous close.
At present, the stock is trading near its 52-week high of Rs 197.75, achieved on July 7.
Notably, momentum indicators RSI and MFI indicate that the stock is trading within the mid-range of 50 and 67, respectively. A value exceeding 70 suggests that the stock has entered the overbought zone.
Over the span of 12 months, NTPC shares have outperformed the Nifty50, yielding a return of over 43% compared to the 21% gain of the 50-stock index.
NTPC is considered a low-beta stock, with a 1-year beta of 0.70, according to Trendlyne. However, it has experienced higher volatility in the past month, with a beta of 1.17.
The power sector leader recorded a 6% decline in its consolidated net profit, amounting to Rs 4,871 crore for the quarter ending on March 31, 2023. This is compared to Rs 5,199 crore in the same quarter of the previous year. Meanwhile, the revenue from operations increased by 19% to Rs 44,253 crore during the reviewed quarter, as opposed to Rs 37,085 crore in the corresponding period of the prior year. On a sequential basis, the net profit for the quarter remained flat in comparison to the Rs 4,854 crore reported in the same quarter last year. However, the revenues slightly declined from Rs 44,601 crore in the preceding December quarter.
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