Credit Suisse upgrades NTPC to 'outperform'

Last Updated: Tue, Apr 09, 2013 10:44 hrs

Credit Suisse upgrades NTPC Ltd to "outperform" from "neutral", saying valuations are attractive given recent concerns that have pushed down shares appear "overstated."

NTPC shares have fallen 10 percent so far this year as of Monday's close, compared with the 6 percent fall in the NSE index due to concerns about the potential loss of access to key coal blocks.

Credit Suisse said NTPC is currently pricing in only 3.8 gigawatts capacity addition over FY14-17, whereas it sees the company adding 9.6 gigawatts over FY14-17.

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