NTPC Limited surged nearly 4.5 percent on Tuesday, November 1 after the company registered over 5.5% growth in standalone net profit to ₹3,331.20 crore for the quarter ending September 30, 2022, reported Mint.
During Tuesday’s trade, the stock opened at a price of Rs. 174 per share closely against the previous close of Rs. 173.10 and rallied further to record a new 52-week-high of Rs. 180.75 during the early trading session. It was trading at a price of Rs.180.55 per share at 12:20 p.m., on the NSE.
The stock has returned almost 12 percent to its shareholders in past one month. In the past six months, it gave a positive return of nearly 14 percent. Furthermore, the stock returned over 42 percent year-to date.
On Saturday, October 29, Government-owned NTPC registered over 5.5% growth in standalone net profit to ₹3,331.20 crore for the quarter ending September 30, 2022 (Q2FY23) compared to a PAT of ₹3,156.74 crore in the same quarter of FY22. However, Q2 PAT declined by 10.4% from ₹3,716.96 crore in the preceding quarter, reported Mint.
The company's top-line front recorded robust growth in Q2FY23. Standalone revenue from operations stood at ₹41,015.14 crore in Q2FY23 rising by 39.17% from ₹29,471.16 crore in the corresponding period of the previous fiscal. In Q1FY23, NTPC registered a revenue of ₹40,026.25 crore. Sequentially, revenue rose by 2.5% in Q2FY23.
Domestic brokerage house ICICI Securities gave a ‘BUY’ call on NTPC with a target price of Rs. 210. Time period given by analyst is one year when the company can reach the defined target, reported ET.
NTPC Limited is an India-based company, which is engaged in the generation and sale of electricity. The principal business activity of the company is electric power generation by a coal-based thermal power plant. The company's other business includes providing consultancy, project management and supervision, re-gasification, oil and gas exploration and coal mining.
According to a Mintgenie poll, an average of 23 analysts have a ‘STRONG BUY’ call on the stock.
