NTPC Ltd, a Maharatna public sector undertaking, is set to hold a board meeting on October 24, 2024, to review and approve its financial results for the quarter and half-year ending September 30, 2024. The board will also consider an interim dividend during this meeting, with November 2, 2024, established as the record date for the dividend, should it be declared. NTPC currently offers a dividend yield of 1.82%, with shares priced at ₹420.25 on the BSE, reflecting a decline of 1.06% at the time of this report.
In 2024, NTPC shares have delivered an impressive return of 36%, and over the past year, the stock has surged by 74%. The company’s market capitalization is approximately ₹4,07,502.39 crore. Analysts maintain a positive outlook on NTPC, with many recommending a buy call. Notably, foreign institutional investors (FIIs) and foreign portfolio investors (FPIs) have increased their holdings from 17.68% to 18.60% in the September 2024 quarter, while the Life Insurance Corporation of India (LIC) holds a 3.97% stake.
According to a filing made by NTPC on October 19, 2024, the board will also review the unaudited financial results from the Audit Committee prior to their approval. The company has a strong history of dividend payouts, having declared 42 dividends since February 25, 2005, with a recent equity dividend of ₹7.75 per share in the past year.
The stock’s performance has been noteworthy, with a 52-week high of ₹448.30 (as of September 30, 2024) and a low of ₹227.75 (as of October 26, 2023). NTPC shares have gained over 15% in the last three months, 155% over the past two years, and an impressive 185% over three years.
The company has also offered a bonus issue in the past, with the most recent being a 1:5 bonus share declared on March 19, 2019. Out of 21 analysts tracking NTPC, 10 recommend a strong buy, 7 suggest a buy, 1 recommends holding, while 3 analysts give sell or strong sell calls.
Arihant Capital indicates a corrective move is occurring following an uptrend on daily charts, suggesting support at ₹425-₹420. They recommend buying at current levels with a stop loss of ₹410, aiming for targets between ₹470-₹490 in the upcoming weeks. Independent SEBI Research Analyst A R Ramachandran notes a bearish trend on daily charts, with strong resistance at ₹429.5 and a potential target of ₹448 if the stock closes above that resistance level.
Founded in 1975, NTPC is on track to become India’s largest integrated power company, targeting a capacity of 130 GW by 2032. The company has robust Rehabilitation & Resettlement and Corporate Social Responsibility policies integrated with its core business of power generation. NTPC achieved Maharatna status in May 2010 and is ranked as the second-largest Independent Power Producer (IPP) in the Platts Top 250 Global Energy Company rankings.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investment decisions should be made based on individual circumstances and objectives. Readers are encouraged to conduct their own research and consult with a financial advisor before making any investment decisions. The performance of NTPC Ltd shares and the potential declaration of an interim dividend are subject to market risks and may vary based on future developments. The author and publisher are not responsible for any financial losses or damages incurred by actions taken based on the information provided herein.
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