Buy NHPC, target price Rs 30.5: IIFL

IIFL has buy call on NHPC with a target price of Rs 30.5. The current market price of NHPC is Rs 29.8.
Time period given by analyst is Intra Day when NHPC Ltd. price can reach defined target.

NHPC Ltd., incorporated in the year 1975, is a Large Cap company (having a market cap of Rs 29934.20 Crore) operating in Power sector.


NHPC Ltd. key Products/Revenue Segments include Power, Other Services, Income from Finance Leases, Other Operating Revenue and Income from Project Development for the year ending 31-Mar-2020.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 2586.91 Crore, up 23.52 % from last quarter Total Income of Rs 2094.30 Crore and down -11.23 % from last year same quarter Total Income of Rs 2914.02 Crore. Company reported net profit after tax of Rs 984.56 Crore in latest quarter.

Investment Rationale
Stock has given a consolidation channel pattern breakout on the daily chart.

Promoter/FII Holdings
Promoters held 71 per cent stake in the company as of June 30, 2021, while FIIs held 4.3 per cent, DIIs 15.2 per cent and public and others 9.6 per cent.