NTPC Share Price Target 2024: Shares of the state-owned power generation company, National Thermal Power Corporation (NTPC), will remain in focus today as the company announced its financial results for the quarter and year ended March 31, 2024, on Friday, May 24, 2024.
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NTPC, in an exchange filing, also stated that its board of directors has recommended a dividend of 32.50 per cent per share for FY 2023-24. Global brokerage firm Jefferies remains bullish on the power generation company’s stock and has hiked the price target on the scrip after the company posted its financial results.
NTPC Q4 2024 Results
NTPC’s profit after tax (PAT) climbed 33.2 per cent year-on-year to Rs 6,490 crore in the quarter under review, as against Rs 4,871.5 crore reported in the corresponding quarter of FY23.
The company’s revenue from operations slipped 7.6 per cent year-on-year to Rs 47,622 crore in Q4FY24 from Rs 44,253 crore reported in Q4FY23.
NTPC’s EBITDA witnessed a surge of 18.8 per cent year-on-year to Rs 14,194 crore in the quarter under review, as against Rs 11,944 crore reported in the corresponding quarter of FY23.
NTPC Share Price Target 2024
Commenting on the company’s financial results, Jefferies said that the Q4 profit was in line with their expectations. The brokerage expects the execution pace to pick up. Jefferies further pointed out that the earnings visibility improves with thermal. “Regulated ROE in place at 15.5% for FY25-29,” said Jefferies. The brokerage expects re-rating to continue with execution.
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Jefferies has maintained a Buy rating on the NTPC stock and hiked the price target to Rs 445 from Rs 415.
NTPC Dividend 2024
According to exchange data, NTPC will pay a dividend of Rs 3.25 apiece on each stock having a face value of Rs 10 to its shareholders. The said dividend payout, however, remains to be approved at the ensuing Annual General Meeting of the Company. The next dividend will be paid to shareholders, subject to their eligibility on the record date.
“The Board of Directors have also recommended the final dividend at the rate of 32.50% (Rs. 3.25 per share) for the financial year 2023-24, subject to the approval of the Shareholders in the ensuing Annual General Meeting,” said NTPC in a regulatory filing.
The aforesaid final dividend is in addition to the first interim dividend at the rate of Rs 2.25 per share and the second interim dividend at the rate of Rs 2.25 per share of face value of Rs 10/- each for the financial year 2023-24, paid in November 2023 and February 2024, respectively.
NTPC Share Price History
The power generation company is a constituent of S&P BSE Sensex. According to the BSE analytics, NTPC’s stock has advanced 11 per cent in the last three months and 47.64 per cent in the last six months.
Shares of NTPC have offered a multibagger return to its shareholders in the last one year by sprinting as much as 114.38 per cent during the said period.
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NTPC’s stock has rallied 155 per cent in the last two years, 190.13 per cent in the last five years, and 180.64 per cent in the last ten years, as per the BSE data.
Shares of NTPC have a 52-week range of Rs 380.40 – 171.90 on the BSE.
