ICICI Direct recommended hold rating on NTPC with a target price of Rs 123 in its research report dated March 19, 2019.
ICICI Direct's research report on NTPC
NTPC goes ex-bonus today. It has announced issuance of bonus shares along with its Q3FY19 results on January 30, 2019. Bonus share ratio was 1:5 i.e. one equity share of face value 10 for every five existing equity shares. NTPC has fixed March 20, 2019 as record date while ex-date for the same is today i.e. March 19, 2019. Consequently, today the share price has adjusted to Rs 132 per share from Rs 159 per share yesterday, post bonus issue of equity shares.
Outlook
Our target price has also been revised to Rs 123 per share from Rs 147 per share post adjustment for bonus issue.
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