December 17, 2018 / 4:48 AM / a month ago

BUZZ-India's NTPC hits near 1-mth high; Jefferies says co to benefit from CERC move

** Shares of power producer NTPC Ltd rise as much as 5.5 pct to 151.35 rupees, their highest since Nov 20

** Jefferies says in a note the Central Electricity Regulatory Commission (CERC), in its draft, allowed energy charges per unit of power to be calculated with a variation of 85 kilocalorie to billing on actual gross calorific value of coal received, giving NTPC the benefit of about 2.7 pct on its coal cost

** With the regulation overhang behind us, we think NTPC should see a reversal of the recent correction - Jefferies

** Jefferies raises target price to 210 rupees from 143.50 rupees; maintain “buy”

** Separately, NTPC said here on Sunday it acquired Barauni Thermal Power Station in District Begusarai, Bihar

** NTPC posts its biggest intraday pct gain since July 10, 2017

** More than 6.8 mln shares traded as of 0440 GMT, vs 30-day moving avg of around 8.8 mln

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below