Book profits in NHPC near Rs 21: Rajesh Agarwal

Written By Unknown on Jumat, 18 Oktober 2013 | 20.07

Oct 18, 2013, 06.27 PM IST

Rajesh Agarwal, Director - Research at Eastern Financiers Limited advises to book profits in HHPC near Rs 21.

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Book profits in NHPC near Rs 21: Rajesh Agarwal

Rajesh Agarwal, Director - Research at Eastern Financiers Limited advises to book profits in HHPC near Rs 21.

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Book profits in NHPC near Rs 21: Rajesh Agarwal

Rajesh Agarwal, Director - Research at Eastern Financiers Limited advises to book profits in HHPC near Rs 21.

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Rajesh Agarwal, Director - Research at Eastern Financiers Limited told CNBC-TV18, "One can try to book profit as NHPC comes near to Rs 21. But for a longer term horizon we have a target of Rs 24 on this stock but short-term may be in the next six months we can see a price of around Rs 21."

He further added, "The company is one of the largest hydro power producer as we all know with a capacity of 5700 megawatt and they are eyeing to add around 4000 MW with equity investment that is a very good thing, book value is around Rs 22 plus, they report an EPS of Rs 2. So valuations are extremely attractive and the plus point is the promoter holding is more than 86 percent. So everything goes in favour of this stock, it has been beaten down because of other reasons other than fundamentals. So one should continue holding to the stock. May be in the next six months one can expect a price of Rs 21 but going forward in the next 12-18 months Rs 24 is quite possible."



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