Synopsis: NTPC Green Energy shares surged nearly 4% on January 6, reaching Rs 133.05 on the BSE, fueled by the company securing a significant 1000 MW solar power project. The market capitalization of NTPC Green Energy rose to Rs 1.09 lakh crore.
Shares of NTPC Green Energy Limited saw a significant rise of 3.66% on January 6, closing at Rs 133.05 on the Bombay Stock Exchange (BSE). This surge came on the heels of the company’s announcement that its wholly owned subsidiary, NTPC Renewable Energy Limited (NTPC REL), secured a 1000 MW power project in a competitive bidding process conducted by Uttar Pradesh Power Corporation Limited (UPPCL). The successful bid was made at a tariff of Rs 2.56/kWh, reflecting the company’s competitive edge in renewable energy.
The market capitalization of NTPC Green Energy also climbed to an impressive Rs 1.09 lakh crore, underscoring the company’s robust position in the renewable energy sector. The trading session witnessed a high turnover of Rs 9.86 crore, highlighting strong investor interest.
Key Milestones in NTPC Green Energy’s Market Journey
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Record Highs and IPO Performance: NTPC Green Energy shares hit a record high of Rs 155.30 on November 4, 2024, marking a remarkable intra-day rise of 9.28% on the BSE. The company’s initial public offering (IPO), held from November 19-22, 2024, raised a total of Rs 10,000 crore through a fresh issue of up to 92.59 crore equity shares. Priced between Rs 102-108 per share, the IPO received a subscription of 2.42 times, reflecting moderate investor enthusiasm.
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Listing Details: The stock debuted on November 27, 2024, with a 3.33% premium over its issue price, listing at Rs 111.60 on the BSE. Similarly, it opened at Rs 111.50 on the NSE, showing a premium of 3.24%.
A Promising Renewable Energy Venture
NTPC Renewable Energy Limited’s victory in the e-reverse auction conducted by UPPCL for setting up 2000 MW ISTS-connected solar photovoltaic power projects is a testament to the company’s capabilities in solar energy. The Letter of Award (LOA) for this achievement is awaited, but this development reaffirms NTPC Green Energy’s position as a frontrunner in India’s renewable energy transition.
Conclusion
NTPC Green Energy’s recent performance in the stock market, buoyed by its strategic win in the renewable energy sector, highlights the growing investor confidence in green energy initiatives. The company’s IPO and subsequent listing reflect its stable financial foundation, while its successful bid for the UPPCL solar power project underscores its commitment to contributing to India’s renewable energy goals. As the firm continues to expand its portfolio, it is poised to play a pivotal role in shaping the future of sustainable energy in the country.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers are advised to consult a qualified financial advisor before making any investment decisions.
