Mumbai, January 20, 2026, 11:39 IST
- NTPC hovered between Rs 345 and 347 in late morning trade on Tuesday, following a stronger start to the session
- A Mirae Asset Sharekhan strategist highlighted a buy range between Rs 342 and Rs 346, setting a target of Rs 380
- MarketsMojo stuck with a ‘Sell’ rating, highlighting limited returns and elevated leverage ratios
Shares of NTPC Ltd nudged up in early Tuesday trading, hovering around Rs 345.05 by 11:24 a.m. IST, marking a roughly 0.5% gain for the day. The stock had earlier touched Rs 347.30, according to a live update from The Economic Times. By that time, roughly 3.39 million shares changed hands, and the price-to-earnings ratio stood at 14.15.
NTPC’s shifts carry weight, as it ranks among India’s largest listed utilities and is a staple in many portfolios for its defensive, dividend-driven appeal. When investors pivot to more stable large caps, stocks like this often attract quick follow-up buying.
NTPC faces a tug-of-war: short-term chart traders eyeing a breakout versus screens flagging ongoing balance-sheet stress. Each group has the power to drive the stock—and the potential to exit fast if key levels falter.
Somil Mehta, head of alternate research and capital market strategy at Mirae Asset Sharekhan, advised buying NTPC between Rs 342 and Rs 346, setting a stop loss at Rs 328 and aiming for Rs 380, the Times of India reported. He called it a “descending trendline breakout” and noted “momentum indicators are positive.” A stop loss here serves as a preset limit to cut losses, while moving averages help smooth out daily price fluctuations. (The Times of India)
MarketsMojo, which ranks stocks using its “Mojo Score,” kept NTPC at ‘Sell,’ with the last update on Nov. 10, 2025, when the score dropped from 55 to 42. The current report uses data through Jan. 20, 2026. It highlighted an average return on capital employed (ROCE) of 8.24% and a debt-to-EBITDA ratio of 4.81 times, while the technical outlook came in as mildly bearish. (ROCE measures profitability against capital, and debt-to-EBITDA compares debt levels to operating earnings.) (Markets Mojo)
The scale of NTPC works both for and against it. While its regulated status and size help stabilize cash flow, hefty expansion projects and older thermal plants may keep leverage high and returns limited—particularly if input costs rise or tariff regulations change.
In the power sector, investors often pit NTPC against peers like Tata Power and Torrent Power, each with their own blend of renewable and conventional assets. The debate tends to focus less on short-term price moves and more on execution and how much room they have on the balance sheet.
The chart trade can quickly reverse. Should the broader market shift or changes in policy and fuel-cost assumptions hit the sector, the stock may fall below support levels, pushing short-term buyers to sell off their positions.
NTPC jumped 3.43% earlier this month, hitting Rs 349.5 in one session, and then pushed higher for a third day running, Business Standard reported. Trading volume stood at 102.16 lakh shares, above the one-month daily average of 92.27 lakh. (Business Standard)
NTPC currently balances between a trader’s bullish target and a screener’s caution flags on profitability and leverage. Investors will be focused on upcoming earnings, project updates, and any policy changes to gauge if returns can rise without taking on more debt.
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