NTPC Green valued at Rs 78,400 crore by Goldman Sachs; brokerage maintains buy on NTPC with Rs 430 target
Whats the buzz around NTPC Green on Dalal Street? Power generating PSU NTPCs IPO-bound subsidiary, NTPC Green Energy handles the renewables business of its parent. Established in 2022, NTPC Green has a capacity of 3 GW currently with plans to take it to 20 GW by FY27. Goldman Sachs has maintained a buy rating on NTPC, valuing it at Rs 4,17,300 crore and NTPC Green at Rs 78,400 crore. Read on to learn more about this story.
Within PSUs, one of the top-performing spaces of the year, NTPC shares have rewarded investors with a return of 79 per cent in the past year, and counting. Is it a good time to enter the stock, which is up about 38 per cent so far in 2024 already? Goldman Sachs has maintained a 'buy' rating on NTPC, valuing it at Rs 4,17,300 crore and its IPO-bound wholly-owned subsidiary NTPC Green Energy at Rs 78,400 crore.
Here are a few important things to know about this development:
According to Goldman Sachs, NTPC Green's profits are in line with its estimates.
NTPC Green Energy is planning to launch what could is set to be the biggest IPO of 2024 so far, at Rs 10,000 crore comprising fresh issuance of shares.
At Rs 10,000 crore, such an IPO will be the second biggest among PSUs since LIC's in 2022.
What is NTPC Green Energy and what does it do?
Established in 2022, NTPC Green Energy handles the renewables business of its parent. Currently, NTPC Green has a capacity of 3 GW with plans to take it to 20 GW by FY27.
(This story will be updated shortly)
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