NTPC Buy Call

As per the technical charts, the day traders can purchase NTPC stock around Rs 203 with a stop loss of Rs 200 to achieve an upper resistant intraday target of Rs 208. The stock has down support of Rs 198.

If the stock market remains positive, the NTPC stock could easily touch its next intraday target of about Rs 211.

Shares of the company gained Rs 3.25 to end at Rs 204 on Friday at BSE. The total volume of shares traded was 2,948,047. The stock has seen a 52-week high of Rs 291 and a low of Rs 221.6 on BSE. Presently, the stock is showing P/E and EPS of Rs 21.54 and 9.47 respectively.

According to recent news, NTPC will recruit around 3,500 personnel, mostly engineers and management trainees by the next three years (2011).

The power generation major has also decided to double up its capability by the end of the Eleventh Five Year Plan.

The company said that the need to boost the manpower was felt more in view of the company branching out into nuclear, hydel, thermal and renewable energy generation, together with power transmission, power trading and coal mining.

National Thermal Power Corporation (NTPC) has entered into a joint venture (JV) agreement with Bihar State Electricity Board (BSEB) in order to form a joint company to create, run and maintain a 1,980 MW thermal power project at Nabinagar, Bihar.

Both the companies (NTPC and BSEB) would hold equal share (50:50) in the planned joint venture company.

Other stocks from the power sector that looks good for short-term trading includes Reliance Power, Tata Power and Power Grid Corp..

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