NTPC shares opened at ₹349.75 and closed at ₹352.95 with a trading volume of 4,657,351 shares, showing positive momentum during Tuesday's market session. The stock reached an intraday high of ₹353.35 and a low of ₹348.50, benefiting from broader market strength. According to ET Now, the 30-share BSE Sensex jumped 544.15 points, or 0.71%, to settle at 76,808.48, while the NSE Nifty climbed 135.25 points, or 0.57%, to end at 23,989.15. Among Sensex constituents, NTPC was among the biggest winners alongside HCL Tech, Bajaj Finserv, Hindustan Unilever, Tata Consultancy Services and Bajaj Finance.
JM Financial has maintained a BUY rating on NTPC with an unchanged target price of ₹450. According to reports from The Hindu BusinessLine, the broker values the stock at 2.6x March 2028E regulated equity for the thermal business and the renewable energy business at NGEL's market cap, implying 1.5x P/B FY28E. The current market price was not specified in the report.
As reported by The Hindu BusinessLine, NTPC is planning a 9.5-GW capacity addition in FY27E, including 8-GW renewable energy capacity. By FY32E, the company expects to incur incremental capex of about ₹6.22 lakh crore, with NGEL contributing ₹3 lakh crore of this investment. The company has already commenced work on the 2.8-GW Mahi Banswara nuclear project, which is expected to achieve first criticality by FY32E with a total capex of around ₹50,000 crore.
According to the report, by 2047E, NTPC expects to have 30 GW of nuclear capacity out of the total 100 GW planned for India. The company is also planning a NIT for 4x700 MWe with separate nuclear and thermal generation packages soon. At March-end 2026, India's installed capacity stood at 533 GW, comprising 249 GW thermal and 282 GW non-fossil-based capacity.
