Last Updated: February 29, 2024, 11:58 IST
Shares of NTPC fell virtually by a proportion at open on the NSE on February 29, a day after it reported that subsidiary NTPC Green Energy had signed a JVA with the Maharashtra State Power Generation Company (MAHAGENCO).
NTPC shares have rallied 95 per cent in a yr and risen 52.37 per cent in six months.
Market cap of NTPC stood at Rs 3.22 lakh crore on BSE. Total 1.98 lakh shares of the agency modified palms amounting to a turnover of Rs 6.62 crore.
“The company will be formed under the joint venture and will develop GW-scale renewable energy parks and undertake projects of this scale in a phased manner. The agreement aligns with the green energy objectives of NTPC and is another step in the government of India’s efforts towards energy transition,” mentioned NTPC in a communication to BSE.
In an alternate submitting, submit market hours, NTPC mentioned that its totally owned subsidiary NTPC Green Energy had signed a three way partnership settlement with MAHAGENCO for the event of Renewable Energy Parks within the state of Maharashtra.
The firm beneath the JVA will develop GW-scale renewable power parks and undertake initiatives of this scale in a phased method.
NTPC has a complete put in capability, together with JVs and subsidiaries, of roughly 74 GW. The subsidiary was fashioned as part of NTPC’s objective of accelerating its renewable power portfolio. “NTPC Group has ambitious plans of attaining 60 GW of renewable energy capacity by the year 2032. Currently, it has 3.4 GW of installed RE capacity and more than 22 GW under pipeline,” a PIB launch famous.
The inventory hit a 52-week low of Rs 166.65 on April 4, 2023 and touched a 52 week excessive of Rs 347.85 on February 21, 2024. The inventory has a beta of 0.6, indicating low volatility in a yr
In phrases of technicals, the relative energy index (RSI) of NTPC inventory stands at 54.4, signaling it’s neither buying and selling within the overbought nor within the oversold zone.. NTPC shares are buying and selling increased than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day transferring averages.
The NTPC Group has bold plans of accomplishing 60 GW of renewable power capability by 2032. Currently, it has 3.4 GW of put in RE capability and greater than 22 GW beneath pipeline. NTPC is dedicated to supporting Maharashtra’s and India’s decarbonisation objectives.
MAHAGENCO has an put in capability of about 13,170 MW together with 9,540 MW thermal, 2,580 MW hydro, 672 MW gasoline and 378 MW photo voltaic-based mostly energy plant capability.
