NTPC, BHEL Shares Rise After Budget Proposes JV For 800-MW Power Plant

Shares of NTPC Ltd. rose as much as 3.25%, the highest level since July 16, before erasing all gains to trade 0.19% lower at Rs 372.80 as of 12:50 p.m. This is compared to a 0.90% decline in the NSE Nifty 50.

The stock has gained 70.62% in 12 months and 19.77% year-to-date. Total traded volume so far in the day stood at 1.85 times its 30-day average. The relative strength index was at 50.03.

Out of 24 analysts tracking the company, 20 maintain a 'buy' rating, one recommends a 'hold' and three suggest 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 11.3%.

Shares of Bharat Heavy Electricals Ltd. rose as much as 3.49%, the highest level since July 18, before paring gains to trade 0.26% higher at Rs 305.70 as of 12:51 a.m. This compares to a 0.90% decline in the NSE Nifty 50.

The stock gained 193.22% in 12 months and 19.86% on a year-to-date basis. Total traded volume so far in the day stood at 2.01 times its 30-day average. The relative strength index was at 48.06.

Out of 19 analysts tracking the company, five maintain a 'buy' rating, three recommend a 'hold' and 11 suggest 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 24.2%.