NTPC's Rs 16.9 Lakh Crore Capex Plan Offers Rare Multi-Year Visibility, Says Axis Securities — Check Target Price, Upside

India's largest power generation, NTPC's structural pivot toward a regulated, cost-plus thermal base alongside an aggressive renewable and nuclear expansion positions it as a direct and diversified beneficiary of India's decade-long power capex buildout, adds the brokerage.