NTPC, L&T, Infosys, RIL top Diwali picks: HDFC

MUMBAI: HDFC Bank Investment Advisory has picked up four frontline stocks as Diwali Muhurat picks.

NTPC: We believe that NTPC being the largest utility in India remains the best pick to play the country’s power story. Although the sector faces challenges such as securing coal linkages as well as capacity additions.

Also off late the SEB’s have shown reluctance in purchasing power. However as NTPC is the only utility to have the largest operating capacity on ground as well as, has 100% fuel linkage in (own mines, coal India and Spot) place for its existing as well as planned capacity.

We remain positive on the company from a longer term perspective and maintain a Buy recommendation on the stock as well as the target price of Rs 248.