Company board decided to pay interim dividend at the rate of 35.8 percent (Rs 3.58 per share).
Shares of NTPC added 2 percent in the early trade on Thursday after company recommended bonus shares and reported better numbers for the third quarter ended December 2018.
The company has reported 1 percent jump in its Q3 net profit to Rs 2,385.4 crore against Rs 2,360.8 crore in a year ago period.
Revenue of the company was up 16 percent at Rs 24,120.4 crore against Rs 20,774.4 crore.
Operating profit or EBITDA rose 24.7 percent at Rs 6,579.9 crore versus Rs 5,277 crore, while margin was up 190 bps at 27.3 percent versus 25.4 percent.
The company board has recommended the issue of bonus shares in the ratio of 1:5 i.e. one new equity bonus share of Rs 10 each for every five existing equity share of Rs 10 each fully paid up, subject to approval of the shareholders.
Further, board also decided to pay interim dividend at the rate of 35.8 percent (Rs 3.58 per share) on the face value of paid-up equity shares of Rs 10 each for the financial year 2018-19.
Brokerage house CLSA has maintained buy rating on the stock with a target of Rs 180 per share.
The Q3 PAT validates our thesis of a turn-around of its operations, said CLSA.
The stock was down 22 percent from 2018 peak and could turn if under-recoveries reduced. It expect a 53 percent RE growth over FY18-21 driving a 13% EPS CAGR.
At 09:28 hrs NTPC was quoting at Rs 140.65, up Rs 1.85, or 1.33 percent on the BSE.
IF YOU WANT RISK-FREE TRADE, CHOOSE US FOR THE BEST RECOMMENDATIONS AND TAKE THE ADVANTAGE OF INDIAN STOCK MARKET. CLICK HERE AND JOIN US FOR FREE >> Nifty Option Tips
No comments:
Post a Comment