Stock Market

NTPC rises 2% on bonus issue, interim dividend

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NEW DELHI: Shares of NTPC climbed 2 per cent in early trade on Thursday, a day after the power firm reported a 1.04 per cent year-on-year (YoY) rise in net profit at Rs 2,385.41 crore for the December quarter. The power company had reported Rs 2,360.81 crore profit in the year-ago quarter.

The board of NTPC has recommended bonus shares in the ratio of 1:5.

Besides, it has decided to pay an interim dividend at the rate of Rs 3.58 per share.

The dividend will be paid on February 14.

Brokerage Motilal Oswal Securities has maintained 'Buy' rating on the stock with a target price of Rs 195.

"We expect NTPC’s core performance to improve in FY20.

This apart, NTPC has a strong pipeline of projects.

Return on equity (RoE) is estimated to increase to nearly 13 per cent by FY21 as capitalization picks up," the brokerage said.

Shares of the company traded 0.94 per cent up at Rs 140.10 on BSE around 10:45 am.




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