April 9, 2013 / 10:28 AM / 4 years ago

Credit Suisse upgrades NTPC to 'outperform'

Power transmission lines are seen at Kamrej village, about 275 km (171 miles) south from Ahmedabad September 30, 2009.Amit Dave/Files

Reuters Market Eye - Credit Suisse upgrades NTPC Ltd (NTPC.NS) to "outperform" from "neutral", saying valuations are attractive given recent concerns that have pushed down shares appear "overstated."

NTPC shares have fallen 10 percent so far this year as of Monday's close, compared with the 6 percent fall in the NSE index .NSEI due to concerns about the potential loss of access to key coal blocks.

Credit Suisse said NTPC is currently pricing in only 3.8 gigawatts capacity addition over FY14-17, whereas it sees the company adding 9.6 gigawatts over FY14-17.

Reporting by Subhadip Sircar

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