02 Feb 2026 | 5 Mins Read
NTPC remains neutral, target of Rs 393
Flipitmoney
NTPC's 3Q FY26 PAT was in line with estimates due to lower finance costs and higher other income. Adj. PAT fell 6% short of estimates due to weak power demand. The thermal capacity target for FY26 was met, with strong recovery in power demand expected in 4QFY26. Outlook: TP set at INR393 with a Dec'27E P/B value of 2x for standalone, coal, and other businesses.