Buy NTPC Ltd. target Rs 200 : Nomura, India

Nomura, India has Buy call on NTPC Ltd. with a target price of Rs 200 .The current market price of NTPC Ltd. is Rs 163.6 Time period given by analyst is a year when NTPC Ltd. price can reach defined target. Nomura says PB site visit boosts visibility of captive coal access - a long awaited catalyst. Expect ~33% rise in commercial generation capacity over next 3 years. See 54% increase in regulated equity by FY19F to translate into pick-up in earnings growth. Don't find the stock expensive; barring a significant GCV-linked fuel cost under-recovery.