External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Equity Bottom-Up

<p>We maintain a BUY rating and FY23 P/BV (consolidated) TP of INR 143/share (+25% from the current level). The stock is currently trading at a FY23 standalone P/BV of 0.9x and a PE of 6.5x (consolidated PE of 5.7x). NTPC: Generation/sales increased 13.7%/13.8% YoY to 77.6bn/72.2bn unit in Q4FY21 on the back of demand recovery. PAF, however, declined in Q4 to 89% vs 94% YoY, but was up at 91.5% in FY21 vs 89.7% YoY. Underrecovery in FY21 came in at INR6bn vs INR2.5 YoY. After adjusting for previous periods and one-off items, adjusted PAT increased by a healthy 31% YoY to INR38.3bn in Q4.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We maintain a BUY rating and FY23 P/BV (consolidated) TP of INR 143/share (+25% from the current level). The stock is currently trading at a FY23 standalone P/BV of 0.9x and a PE of 6.5x (consolidated PE of 5.7x). NTPC: Generation/sales increased 13.7%/13.8% YoY to 77.6bn/72.2bn unit in Q4FY21 on the back of demand recovery. PAF, however, declined in Q4 to 89% vs 94% YoY, but was up at 91.5% in FY21 vs 89.7% YoY. Underrecovery in FY21 came in at INR6bn vs INR2.5 YoY. After adjusting for previous periods and one-off items, adjusted PAT increased by a healthy 31% YoY to INR38.3bn in Q4.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

NTPC Ltd

HSIE Results Daily: NTPC