76,530.68 MW Group Capacity: NTPC-Backed Power Stock Hit 10 Per Cent Upper Circuit & 52-Week High; Do You Own It?
This strategic partnership aims to harness the potential of clean energy and contribute to a sustainable future for the region.
On Tuesday, shares of NTPC Green Energy Ltd hit a 10 per cent upper circuit and made a new 52-week high of Rs 142.10 per share from its previous closing of Rs 129.20 per share.
NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, is a leading renewable energy company in India. Incorporated in 2022, NGEL is dedicated to developing, constructing, and operating solar and wind energy projects across the country. With a strong focus on sustainable energy solutions, NGEL aims to contribute significantly to India's renewable energy goals. By leveraging its parent company's expertise and resources, NGEL is well-positioned to become a major player in the renewable energy sector.
NTPC Green Energy Limited announced the successful commissioning and declaration of Commercial Operation of the first part capacity of 55 MW out of the 105 MW Shajapur Solar Project (Unit-I) at Shajapur, Madhya Pradesh, under its wholly owned subsidiary, NTPC Renewable Energy Limited. This milestone achievement was realized on November 29, 2024, at 00:00 hours, thereby elevating the total installed and commercial capacity of the NTPC group to 76,530.68 MW.
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Additionally, NTPC Green Energy Limited (NGEL) and Chhattisgarh State Power Generation Company Limited (CSPGCL) have joined forces to accelerate the adoption of renewable energy. A Memorandum of Understanding (MoU) was signed on November 26, 2024, to collaborate on the development of up to 2,000 MW of renewable energy projects, including innovative floating solar solutions. This strategic partnership aims to harness the potential of clean energy and contribute to a sustainable future for the region.
The company has a market cap of Rs 1.19 lakh crore with a PE of 360x, an ROE of 7 per cent and an ROCE of 8 per cent. Investors should keep an eye on this power generation stock.
Disclaimer: The article is for informational purposes only and not investment advice.