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Shares of state-owned NTPC are trading higher over 2.5% at Rs 116 on the BSE amid reports that Citi group has upgraded the stock to a compelling 'buy' rating citing its low valuations at current level, pick-up in the capacity additions and improving return on equity.
Meanwhile, with Coal India witnessing improvement in production recently, NTPC plants may no longer face coal shortages.
Previously, the government approved proposals for divesting 11.36% stake in NTPC and 5% stake in NHPC, a move that it likely to fetch Rs 8,247 crore to the exchequer.
The stock opened at Rs 113 and touched a high of Rs 116 on the BSE. A total of 95,387 shares changed hands on the BSE so far.
