Engineers India shares climb 5%; NTPC Green, NTPC drop up to 4%: Targets for three PSUs post Q4 results

Shares of Engineers India Ltd soared 5 per cent in Monday's trade, while those of NTPC Ltd and NTPC Green Energy Ltd declined up to 4 per cent following the three PSUs' March quarter results. Engineers India advanced 5.46 per cent to Rs 227.75 apiece on BSE. NTPC Green shares fell 4.11 per cent to hit a low of Rs 100.10. NTPC fell 0.5 per cent to hit a low of Rs 386.50, but later traded flat at Rs 388.40. Engineers India received a 'Buy' rating from Antique Stock Broking. NTPC Green was rated 'Sell' by Elara Securities. NTPC, meanwhile, received 'Buy' ratings from JM Financial and Nuvama Institutional Equities, while another brokerage maintained a 'Neutral' stance on the stock. 

Engineers India share price target
Engineers India's strong order book offers healthy growth visibility, said Antique Stock Broking as it maintained 'Buy' on the PSU stock with a revised target of Rs 256. The brokerage said Engineers India's Q4 revenue fell 9 per cent YoY, which was below its estimate, primarily due to lower-than-expected revenue across both Consultancy and Turnkey segments. However, Ebitda growth at 39 per cent YoY was in-line, leading to a beat in Ebitda margin that came in at 15.4 per cent, led by better-than-expected margins. 

"With strong order book in hand and a healthy 20 per cent YoY growth in FY26, management guided for FY27 topline growth of 15 per cent. Segmental margin guidance for the Consultancy and Turnkey project segments stood at 22-25 per cent/ 5-7 per cent, respectively. We retain our FY27/28 estimates & maintain Buy rating on the stock with revised target of Rs 256 (earlier Rs 244), valuing core business at 24 times its FY28E EPS (earlier 22x FY28)," Antique Stock Broking said.

NTPC Green share price target
Elara Securities said NTPC Green Energy delivered strong operational growth in Q4FY26, with revenue rising 47 per cent YoY and Ebitda increasing 38 per cent, driven by substantial capacity additions and higher generation. That said, NTPC Green's profitability was impacted by a 54 per cent YoY increase in depreciation, a 46 per cent rise in finance costs, and a 77 per cent decline in other income, resulting in PAT falling 15 per cent YoY. 

"The company maintains an aggressive growth roadmap with planned capacity additions of 8.2GW in FY27, 8.1GW in FY28, and 8.4GW in FY29, supported by a 14.4GW under-construction pipeline and capex plans. PPA tie-ups cover 79 per cent of FY27, 71 per cent of FY28, and 66 per cent of FY29 planned capacity additions. Management also clarified that the reduction in the project pipeline from 32GW to 30GW reflects portfolio rationalization and reassessment of project progress across subsidiaries and JVs rather than any slowdown in growth ambitions. Revise rating to 'Sell' with target price retained at Rs 96,"  Elara said. 

NTPC share price targets
Following its March quarter results, NTPC received 'Buy' from JM Financial with a revised target of Rs 450 against Rs 420 earlier. Nuvama said a weak demand kept quarter muted. "Despite near-term growth challenges, NTPC remains our top pick given steady-state 16–17 per cent core RoE and a 9.4 per cent adjusted consolidated EPS CAGR over FY26–28E (higher RE-led growth) while trading inexpensive at 1.7 times FY28E P/BV. Retain ‘Buy’ with a target of Rs 445 (earlier Rs 409) at 2.5 times FY28E standalone book and NTPC Green at a 30 per cent discount to CMP," Nuvama said. 

MOFSL suggested 'Neutral' rating on NTPC with a target of Rs 393.