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Jefferies downgrades NTPC to 'underperform'
Larsen & Toubro has given a guidance of 15-20 per cent growth in order book for 2012-13.
14 May 2012, 11:17 AM IST 
Honda India president Keita Muramatsu (left) and actor Akshay Kumar at the Dream Yuga launch in Gurgaon on Tuesday.
Power producer NTPC was downgraded by Jefferies, a foreign brokerage, to "underperform" from "hold". The firm has cut the target price to Rs 125 rupees from Rs 175. The current market price is Rs 149.30.
The brokerage says NTPC's cut in its planned capex addition because of delays in coal availability and environmental clearances will bring down five-year compound annual growth rates to an expected 10 percent from 15 percent.
NTPC's posted on Thursday a decline of 6.8 percent in its Jan-March net profit. NTPC shares were firm and rose by 1 per cent in early morning trade on Monday.