Multibagger PSU energy company signs MoU to develop renewable energy park and projects; President of India holds 51.10 per cent stake!
The company's shares have delivered an impressive return of around 100 per cent in the past one year.
NTPC (National Thermal Power Corporation) Limited, along with its subsidiaries, associates, and joint ventures, is primarily involved in the generation and sale of bulk power to state power utilities. Other businesses of the group including providing consultancy, project management, and supervision, energy trading, oil and gas exploration, and coal mining announced a significant MoU signed by the company.
NPTC’s MOU Details:
To achieve the green energy objectives of NTPC and the Indian government's efforts towards energy transition, NTPC Green Energy Limited (NGEL) and Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) signed a Memorandum of Understanding (MoU) at NTPC corporate office aims at jointly developing grid-connected Renewable Energy Parks and Projects, including Solar, Wind, Hybrid, etc., up to 10 GW in the state of Maharashtra.
NTPC, India’s largest Power Utility with a core business of power generation and a total installed capacity of over 76 GW is increasing its renewable energy portfolio through the formation of a fully owned subsidiary, NGEL.
NGEL will undertake Renewable Energy Parks and Projects, including ventures in Green Hydrogen, Energy Storage Technologies, and Round the Clock RE Power. The NTPC Group has ambitious plans to achieve 60 GW of renewable energy capacity by 2032, with 3.5 GW of installed RE capacity and over 28 GW under pipeline currently.
Also read Mukul Agrawal's portfolio company posts robust results, highest ever PAT, operating profit, and revenue in FY24!
Share Performance of NTPC
Today, the company's stock is trading at around Rs 352.30 per share on the BSE, with a market capitalisation of Rs 3,41,613 crore. Additionally, the stock has delivered a multibagger return of around 235 per cent in the past three years. The company has not yet released its Quarterly Results for Q4 FY24.
In Q3 FY24, NTPC reported revenue of Rs 42,820 crore, representing a year-on-year de-growth of 3.99 percent from Rs 44,602 crore in the same quarter last year. The company posted an operating profit of Rs 11,362 crore, compared to a profit of Rs 12,819 crore in the same quarter last year. The company’s net profit stood at Rs 5,209 crore in the December quarter.
Investors must keep this Large-Cap multibagger stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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