NTPC Shares Gained More Than A Percent Intraday After Global Brokerage CLSA

NTPC shares gained more than a percent intraday after global brokerage CLSA retained its buy call with a target price at Rs 157, implying 22 percent upside on potential SJVN merger.

"SJVN acquisition if happens is value-accretive M&A & better energy mix with renewables," the research firm said, adding acquisition would help NTPC triple its hydro capacity & double the share of renewables.

SJVN could double hydro capacity with its pipeline of 2.7 GW of regulated hydro assets, said CLSA which like NTPC's merger & acquisition strategy that is focused on acquiring operating regulated assets.

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