Shares of power producer NTPC Ltd rise as much as 5.5 per cent to ₹151.35, its highest since November 20.
Jefferies has said in a note that the Central Electricity Regulatory Commission (CERC), in its draft, allowed energy charges per unit of power to be calculated with a variation of 85 kilocalorie to billing on actual gross calorific value of coal received, giving NTPC the benefit of about 2.7 per cent on its coal cost. With the regulation overhang behind, NTPC should see a reversal of the recent correction
Jefferies raises target price to ₹210 from ₹143.5; and maintained “buy” call.
NTPC has posted its biggest intraday per cent gain since July 10, 2017
More than 6.8 million shares were traded gainst 30-day moving average of around 8.8 million shares traded