Brokers' call: Nomura retains ‘Buy’ on NTPC

Nomura has maintained a ‘Buy’ rating on NTPC and set a target price of Rs 191. “Our long-term investment thesis on NTPC remains intact – defensive earnings growth outlook with relatively high earnings visibility, lowest funding risk among peers and relatively adequate fuel security,” it said.

NTPC’s Q4FY13 normalized net profit came in 9%/11% below Nomura/consensus forecast; reported PAT, expectedly buoyed by the settlement of prior period dues and interest thereon, was Rs 43.8 billion.