Jefferies had a bullish call on NTPC seeing high prospects for NTPC Green. 

What The Brokerage Said: Jefferies held a "buy" call for NTPC with a target price of ₹485, indicating an 11% upside from the previous session's closing price.

NTPC Green currently has 3.2 gigawatts of energy capabilities operational with 3.1-gigawatt solar and 100-megawatt wind capabilities. The company plans to increase the capacity 19 times to 60 gigawatta by 2032, which indicates a 44% capacity compound annual growth rate, the brokerage noted. 

Jefferies pointed out that NTPC has filed DRHP for a fresh issue of up to ₹10,000 crore. 

See Also: BSE Shares In Green After Increasing Transaction Charges In Derivatives Segment

The research firm assumes that if the company dilutes a 10%-15% stake and the renewable energy arm is valued at double its coal business, NTPC could see a 5%-11% upside from its current market price.

NTPC Green Energy recently announced a joint venture with Mahatma Phule Renewable Energy and Infrastructure Technology to develop 10 gigawatts of renewable energy parks and projects in Maharashtra and other parts of the country.

Price Action: Shares of NTPC were up 0.24% at ₹437.95  on Monday morning. 

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