PSU power company sees marginal gain on joint venture with Indian Oil Corporation Ltd
The stock has a PE of 9.86x whereas the sectoral PE is 28.70x with multibagger returns of over 200 per cent in 1 decade.
NTPC Ltd informed the exchanges (BSE: 530965; NSE: IOC) that t NTPC Green Energy Limited, a wholly-owned subsidiary of NTPC Limited has incorporated a new company, in a 50:50 joint venture with Indian Oil Corporation Limited, in the name of “INDIANOIL NTPC GREEN ENERGY PRIVATE LIMITED”. The incorporation date of the joint venture company on June 02, 2023.
INDIANOIL NTPC GREEN ENERGY PRIVATE LIMITED will develop Renewable Energy based power projects (viz. Solar PV, Wind, any other RE, Energy Storage or any combination of same), to supply 650 MW or more renewable power on round a clock basis, to cater to the requirement of Indian Oil Corporation Limited.
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NTPC (National Thermal Power Corporation) Ltd along with its subsidiaries/ associates & JVs is primarily involved in the generation and sale of bulk power to state power utilities. Indian Oil Corporation Ltd is a Maharatna Company controlled by GOI. Both companies are public sector undertakings, with the majority ownership held by the President of India (NTPC Ltd holds a stake of 51.10 per cent, while Indian Oil Corporation Ltd holds a stake of 51.50 per cent).
On Monday, shares of NTPC Ltd gain 1.03 per cent to an intraday high of Rs 176.20 per share from its previous closing of Rs 174.40. The stock has a PE of 9.86x whereas the sectoral PE is 28.70x with multibagger returns of over 200 per cent in 1 decade.