Motilal Oswal - MOSL: Morning India (22/November/19): 1. NTPC (NTPC to acquire NEEPCO and THDC); 2. Siemens (Order inflow disappoints)

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Motilal Oswal

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MOSL: Morning India (22/November/19): 1. NTPC (NTPC to acquire NEEPCO and THDC); 2. Siemens (Order inflow disappoints)

Morning India (22/November/19):

Today’s top research idea
NTPC: NTPC to acquire NEEPCO and THDC; Transaction value yet to be finalized
** The cabinet has approved the sale of GoI's stake in NEEPCO and THDC to NTPC. This would increase NTPC's commercial capacity by ~5%.

** Uncertainty over the transaction value and continued govt. divestment can be an overhang on the stock in the near term.

** However, we remain positive on NTPC from a medium-term perspective led by pickup in capitalization and decline in fuel under recoveries - which should drive 14% earnings over FY19-21.

** We maintain Buy with a DCF-based target price of INR163/sh.

Piping hot news
Sony eyes up to 30% stake in Mukesh Ambani's Network18 after Zee bid failed
Japanese major Sony Corporation is in preliminary talks with Mukesh Ambani’s Network18 Media & Investments for a possible stake buy, making it the second attempt by the group in 10 months for a local acquisition. In March, Sony had emerged the front runner to acquire a 20 per cent stake in Zee after the promoters of the latter said they were ready to offload up to half their shareholding to a strategic investor.

22/11/2019 20 EN

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MOSL: Morning India (22/November/19): 1. NTPC (NTPC to acquire NEEPCO and THDC); 2. Siemens (Order inflow disappoints)

MOSL : HOME FIRST FINANCE COMPANY: Earnings in-line with sustained improvement in asset quality

MOSL : SHOPPERS STOP: Ticking the right boxes

MOSL : ERIS LIFESCIENCES: Enhanced efforts toward product launch-related activities

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