December 11, 2024
New Delhi, India
NTPC Green Energy Shares
NTPC Green Energy’s stock initially surged over 5% during the morning session following its subsidiary, NTPC Renewable Energy Limited (NTPC REL), securing a 500 MW solar project. However, as of midday, the stock has pared gains and is trading lower in a volatile session.
- Market Reaction (12:06 PM):
- Early optimism drove the stock higher.
- Midday selling pressure has shifted sentiment, with traders cautious despite the positive announcement.
Details of the Project
The 500 MW solar project, awarded through an SECI auction, includes a 250 MW/1,000 MWh Energy Storage System (ESS), showcasing NTPC Green Energy’s commitment to innovation and renewable leadership.
- Key Highlights:
- Bid secured at ₹3.52 per unit of power.
- Official Letter of Award awaited.
Strategic Importance
The project aligns with NTPC Green Energy’s target of 60 GW of renewable capacity by 2032. With 4.1 GW of operational projects and 21 GW under development, the company remains a significant player in India’s renewable energy sector.
- Financial Growth:
- Revenues rose to ₹1,962.6 crore in FY24 from ₹910.42 crore in FY22.
- Net profits have also shown strong growth in recent years.
Market Sentiment
While the stock’s performance reflects ongoing volatility, the solar project win reaffirms NTPC Green Energy’s strategic progress. Investors are advised to monitor the intraday movement closely and consider long-term potential as the market remains active.
NTPC Green Energy stock is now trading 1.45% higher at 148.80 a piece on NSE by 12:03 PM IST.
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