NTPC Ltd.
Power · NSE
52-week range
₹313 – ₹414
From 52w high
-3.0%
RSI (14)
59.5
vs SMA 50 / 200
↑ 50 · ↑ 200
NTPC (₹402.15) is India's largest government-owned power generation utility, currently trading above its 50-DMA (₹385.22) and 200-DMA (₹346.21) with a 12-month price gain of 20.76% and a 52-week drawdown of just -2.96%. The stock carries a debt-to-equity of 118.1 with a rising debt trend, a profit margin of 12.89%, and a trailing PE of 22.27 vs. a forward PE of 15.02, reflecting expectations of earnings recovery through capacity additions including its NTPC Green Energy renewables arm.
- ✓Trading above both the 50-DMA (₹385.22) and 200-DMA (₹346.21); 12-month price appreciation of 20.76% and 3-month gain of 10.33% with RSI at 59.54 (neutral zone), not in overbought territory.
- ✓Forward PE of 15.02 represents a 32.6% compression from the trailing PE of 22.27, implying market expectations of significant earnings growth ahead.
- ✓FCF-positive in 4 of available tracked years, indicating the core generation business generates cash despite heavy capex cycles.
- ✓Dividend yield of 2.82% provides an income component; NTPC is commissioning new capacity (150 MW Rajasthan solar COD, 250 MW Tehri pumped storage) that may support future earnings.
- ✗Debt-to-equity of 118.1 is structurally elevated with a rising debt trend; continued borrowing to fund the renewables buildout increases interest-cost exposure.
- ✗5-year earnings CAGR of -1.6% despite 8% revenue CAGR signals sustained margin compression over the period — revenue growth has not translated to earnings growth.
- ✗Quality score of 28 and consistency score of 37 place NTPC in the lower tier within the power sector peer group, with ROE below 15% across all available tracked years.
- ✗Nearest technical resistance is at ₹414.40; supports are at ₹364.10, ₹362.20, and ₹352.00, meaning a pullback to the nearest support cluster would represent a decline of approximately 9-10% from current price.
- ·NTPC Green Energy commissioned 150 MW of solar capacity in Rajasthan (COD declared April 2026) and was awarded a ₹6.2 billion Rajasthan solar project to KPI Green Energy, accelerating its renewable energy buildout.
- ·A subsidiary commissioned 250 MW of the Tehri pumped storage project in April 2026, adding dispatchable renewable capacity — a strategic differentiator as India ramps up storage-linked generation.
- ·All 8 news items tracked in the current window are positive in sentiment, centred on capacity additions and green energy milestones; no adverse regulatory or operational headlines appear in the sample.
- ?How does NTPC's debt-to-equity of 118.1 compare to regulated power utilities globally, and does the regulated-tariff revenue model structurally support this leverage level over a full capex cycle?
- ?Does the gap between the 5-year revenue CAGR (8%) and earnings CAGR (-1.6%) reflect a temporary compression from the renewables capex ramp, or a structural deterioration in generation economics?
- ?At what pace does NTPC's renewables capacity need to grow — and at what tariff realisation — for the forward PE of 15.02 to be validated by actual earnings delivery?
- ?How much of NTPC's 12-month price appreciation reflects sector-wide re-rating of PSU power utilities versus company-specific operational improvements?
PE
22.3
Forward PE
15.0
ROE
—
Profit margin
+12.9%
D/E
118.13
Dividend yield
+2.8%
Quality score
28/100
ROE 5y above 15%
0/5 yrs
FCF 5y positive
4/5 yrs
For informational purposes only. Not investment advice. VivaTrades is not a SEBI-registered Investment Adviser or Research Analyst. Market data sourced from public feeds; consult a registered adviser before any investment decision.Analysis generated 10 May 2026.