Jefferies upgrades NTPC to ‘hold’; maintains target price at Rs 136

NEW DELHI: Jefferies has upgraded NTPC from ‘underperform’ to ‘hold’ rating. The brokerage has maintained price target at Rs 136, the global brokerage firm said in a report.

At 10:30 am, NTPC was trading 0.2 per cent higher at Rs 142.80. It has hit a low of Rs 141.70 and a high of Rs 143.25 in trade today.

The brokerage firm said that NTPC’s capex is on track to achieve capacity addition target and the dividend yield is nearing 8 year high at 3.3 per cent which protects downside.

Jefferies said stable operational parameters give certainty to earnings growth.