Multibagger maharatna’s subsidiary: Nayara Energy inks MoU for Green Hydrogen Production; do you own it?
The stock has achieved multibagger status, delivering return of over 160 per cent over the last 3 years.
Today, the bulls on D-Street appeared to be grappling for momentum after the Nifty surpassed the 20,000 mark. There were several factors, including the G20 summit that played a role in this remarkable surge.
NTPC Green Energy Limited (NGEL) a subsidiary of NTPC Limited, has joined forces with Nayara Energy to explore opportunities in the green hydrogen sector. The Memorandum of Understanding (MoU) was formally signed by NGEL's CEO, Mohit Bhargava, and Nayara Energy's Head of Technical, Amar Kumar, with senior officials from both entities as witnesses.
This strategic collaboration supports NTPC's initiatives in advancing hydrogen projects in India, aligning with the government's Atmanirbhar Bharat vision.
NTPC's group installed capacity has achieved a noteworthy milestone, totaling 73,824 MW (73.8 GW). This accomplishment was marked by the successful trial operation of the first 800 MW unit at the Telangana Super Thermal Power Project on September 5, 2023.
In an effort to foster green hydrogen production, NTPC Green Energy Limited has signed an MoU with the V.O. Chidambaranar Port Authority (VOCPA) for the establishment of a Green Hydrogen Hub in Tuticorin, Tamil Nadu. This initiative underscores NTPC's commitment to exploring and implementing cutting-edge technologies in the pursuit of a cleaner and more sustainable energy future.
NTPC Green Energy Limited specializes in generating electricity from renewable sources such as solar, wind, and hydro power. NTPC, as a Ministry of Power entity, stands as India's largest power utility with a total installed capacity exceeding 73 GW. With ambitious plans to establish 60 GW of renewable energy capacity by 2032 and a robust pipeline of over 20 GW, NTPC is actively contributing to India's green energy transition.
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In Tuesday deals, the shares of NTPC Limited showcased mixed performance. Nevertheless, the stock hits fresh 52-week high mark of Rs 244.94 per share on BSE. The company's current market capitalisation is Rs 2,27,774.69 crore.
In addition to this, the stock has achieved multibagger status, delivering an exceptional return of over 160% over the last 3 years.
Keep a close eye on this trending stock.
Disclaimer: The article is for informational purposes only and not investment advice.