After 25% fall from peak, Sumeet Bagadia of Choice Broking recommends buying this Maharatna power stock

In the special edition of Stocks of the Day, Sumeet Bagadia- Executive Director at Choice Broking has recommended buying Maharatna utiltiy stock. The stock is trading in the range of Rs 340-341 and in the previous session closed at Rs 337.4.

While, at the last count at around 10:32 am in Wednesday's trade (March 19, 2025) traded higher by over 1 per cent at Rs 342.25. While the stock's intraday low and high have been Rs 336.65 and Rs 343.1 per share on the BSE.

Sumeet Bagadia's view on NTPC

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As per the expert, the stock has seen a breakout - and has recently broken the swing line. Further, as per him, the stock has scaled the highest point of this year.

The analyst held that the stock is seen breaking January's highest price. The stock last hit levels of near Rs 340 on January 3, 2025. In fact, the stock has been recommended after a steep fall of as much as 25 per cent from its all-time peak of Rs 448.3 marked in September last year.

The expert believes that the stock from here should show good upward momentum.

Stop loss and target price for NTPC

The expert bets on the stock for the initial and final target of Rs 351 and Rs 355, respectively, implying gains of over 5 per cent. Further, he suggests keeping a stop loss of Rs 332. He said that both of them are targets of rebound in the stock and there is anticipated further rally.

The gains in the utility major come along with the gains in other power stocks such as Power Grid Corporation of India, CESC among others.