NTPC shares gain 2% as Goldman Sachs sees more legs to the rally

During this month, the country witnessed a peak shortage of 9 GW, which is worst since FY14. This is reinforces the thesis that India has already entered a phase of peak power shortages, according to Goldman Sachs.

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Shares of NTPC rose 2 percent on August 21 after Goldman Sachs said that it sees the stock rallying up to Rs 275, indicating a 26 percent upside from the current level. The foreign brokerage firm has a ‘buy’ recommendation on the stock.

At 9:55 am, the scrip was trading 1.3 percent higher at Rs 217.9 on the BSE. The stock has risen 25 percent in the past three months.

India reported peak power demand recording the highest-ever annual growth of 18 GW. Reported peak demand has already bettered as compared to the estimate of 229 GW, the brokerage firm said.

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During this month, the country witnessed a peak shortage of 9 GW, which is the worst since FY14. This reinforces the thesis that India has already entered a phase of peak power shortages, according to Goldman Sachs.

The foreign brokerage firm now foresees a revival in thermal capex as the legacy coal business re-rates.

Recently, the state-owned power giant started a trial run of a hydrogen bus in Leh. Towards achieving carbon-neutral Ladakh, NTPC is setting up a hydrogen fuelling station, solar plant and providing five fuel cell buses for operation on intracity routes of Leh.

NTPC has a goal to reach a Renewable Energy capacity of 60 GW by 2032 and aims to become a significant participant in green hydrogen technology and energy storage. The company is undertaking various steps to reduce its carbon footprint, including activities like blending hydrogen, capturing carbon, introducing electric buses, and developing intelligent NTPC communities.