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ICICI Securities has buy call on NHPC with a target price of Rs 35. The current market price of NHPC Ltd. is Rs 26.15. Time period given by analyst is one year when NHPC Ltd. price can reach defined target.
NHPC Ltd., incorporated in the year 1975, is a Large Cap company (having a market cap of Rs 26317.99 Crore) operating in Power sector.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 2586.91 Crore, up 23.52 % from last quarter Total Income of Rs 2094.30 Crore and down -11.23 % from last year same quarter Total Income of Rs 2914.02 Crore. Company reported net profit after tax of Rs 984.56 Crore in latest quarter.
Investment Rationale
The brokerage maintains BUY rating and DCF-based target price of Rs 35. It revises estimates for FY23E and incorporate commissioning of two units of Subansiri in FY23E and the balance two units in FY24E, and commissioning of Parbati-II too in FY24E. The stock is trading at 8x P/E and 0.8x P/B on FY23E basis. Its dividend yield is >6%.
Promoters held 71 per cent stake in the company as of June 30, 2021, while FIIs held 4.3 per cent, DIIs 15.2 per cent and public and other 9.5 per cent.
NHPC Ltd., incorporated in the year 1975, is a Large Cap company (having a market cap of Rs 26317.99 Crore) operating in Power sector.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 2586.91 Crore, up 23.52 % from last quarter Total Income of Rs 2094.30 Crore and down -11.23 % from last year same quarter Total Income of Rs 2914.02 Crore. Company reported net profit after tax of Rs 984.56 Crore in latest quarter.
Investment Rationale
The brokerage maintains BUY rating and DCF-based target price of Rs 35. It revises estimates for FY23E and incorporate commissioning of two units of Subansiri in FY23E and the balance two units in FY24E, and commissioning of Parbati-II too in FY24E. The stock is trading at 8x P/E and 0.8x P/B on FY23E basis. Its dividend yield is >6%.
Promoter/FII Holdings
Promoters held 71 per cent stake in the company as of June 30, 2021, while FIIs held 4.3 per cent, DIIs 15.2 per cent and public and other 9.5 per cent.
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