NHPC shares jump 6% as CLSA reiterates outperform rating; Check target
CLSA highlighted NHPC's strong September-quarter performance, with recurring profit after tax (PAT) rising 74% year-on-year (YoY) to Rs 1,780 crore.
- Nov 5, 2026,
- Updated Nov 5, 2026 11:52 AM IST
NHPC Ltd shares climbed as much as 6% after global brokerage CLSA reiterated its 'High Conviction Outperform' rating on the power company and maintained its target price of Rs 117. The brokerage sees significant earnings growth ahead, supported by new capacity additions, the restart of hydroelectric projects and a strong pipeline of growth opportunities.
CLSA highlighted NHPC's strong September-quarter performance, with recurring profit after tax (PAT) rising 74% year-on-year (YoY) to Rs 1,780 crore. The brokerage said the company navigated El Nino conditions well during the second quarter, with new capacity additions and the restart of projects supporting the sharp improvement in earnings. The turnaround at Parbati II and Parbati III hydroelectric projects, along with the restart of Teesta V, were among the key contributors.
The shares touched a high of Rs 83.49, compared with the previous close of Rs 78.45, marking a rise of around 6%.
The brokerage said the best is yet to come for NHPC, identifying 14 potential catalysts over the next year. These include the start of the sixth and seventh 250-MW units at the Subansiri Lower hydroelectric project, the restart of Teesta V and the commissioning of Subansiri units. The launch of gigawatt-scale hydro projects could also support the company's longer-term growth.
CLSA expects NHPC's renewable energy earnings to grow at a 90% compound annual growth rate (CAGR) over FY26-30, compared with 31% growth over the preceding five years. It also sees earnings per share doubling and return on equity expanding by 810 basis points over FY26-29. The brokerage reiterated its 'High Conviction Outperform' rating, citing a decade-long growth opportunity for the company.
NHPC Ltd shares climbed as much as 6% after global brokerage CLSA reiterated its 'High Conviction Outperform' rating on the power company and maintained its target price of Rs 117. The brokerage sees significant earnings growth ahead, supported by new capacity additions, the restart of hydroelectric projects and a strong pipeline of growth opportunities.
CLSA highlighted NHPC's strong September-quarter performance, with recurring profit after tax (PAT) rising 74% year-on-year (YoY) to Rs 1,780 crore. The brokerage said the company navigated El Nino conditions well during the second quarter, with new capacity additions and the restart of projects supporting the sharp improvement in earnings. The turnaround at Parbati II and Parbati III hydroelectric projects, along with the restart of Teesta V, were among the key contributors.
The shares touched a high of Rs 83.49, compared with the previous close of Rs 78.45, marking a rise of around 6%.
The brokerage said the best is yet to come for NHPC, identifying 14 potential catalysts over the next year. These include the start of the sixth and seventh 250-MW units at the Subansiri Lower hydroelectric project, the restart of Teesta V and the commissioning of Subansiri units. The launch of gigawatt-scale hydro projects could also support the company's longer-term growth.
CLSA expects NHPC's renewable energy earnings to grow at a 90% compound annual growth rate (CAGR) over FY26-30, compared with 31% growth over the preceding five years. It also sees earnings per share doubling and return on equity expanding by 810 basis points over FY26-29. The brokerage reiterated its 'High Conviction Outperform' rating, citing a decade-long growth opportunity for the company.