Nomura starts India's NTPC Green Energy with 'neutral'

NTPC Green Energy

21/10/2026 09:53

** Nomura initiates NTPC Green Energy NTPG.NS with "Neutral" and PT of 100 rupees
** Shares down 4.4% at 83.34 rupees
** Brokerage says co has strong multi-year growth visibility, backed by parent NTPC's target to reach 60 GW renewable capacity by FY32
** Nomura expects revenue/EBITDA CAGRs of 74%/72% over FY26-FY29
** However, Nomura flags near-term execution hurdles due to tight transmission availability
** Nomura prefers Acme Solar over NTPC Green as Acme is better placed to capture energy storage opportunity owing to its faster execution
** Stock down 11.9% YTD 



 (Reporting by Payel Das in Bengaluru)
 ((Payel.das@thomsonreuters.com))