Shares of India’s largest thermal power utility firm gained 1.8 percent to a 52-week high price of ₹ 360 per share on Tuesday after the company entered into a joint venture agreement with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited.
At 1:40 a.m., NTPC Ltd. shares were trading at ₹357.90 per share, up 1.16 percent from the previous close price on the National Stock Exchange. The stock belongs to the large-cap category, with a market capitalization of ₹3,47,043 crores.
As per the company’s exchange filing. On March 4, 2024, NTPC Green Energy Limited (NGEL), a fully owned subsidiary of NTPC Limited, entered into a joint venture agreement with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) for the purpose of developing renewable power parks and projects in Uttar Pradesh.
The renewable energy generated from the proposed Joint Venture Company (JVC) will fulfill the Renewable Generation Obligation (RGO) set by the UPRVUNL.
Recently, the company’s Board of Directors approved the investment for the Singrauli Super Thermal Power Project, Stage-III (2×800 MW) at an appraised current estimated cost of ₹17,195.31 crore.
Moreover, there was a 4% year-on-year decrease in NTPC’s revenue, dropping from ₹44,602 crore in the third quarter of FY23 to ₹42,820 crore in the third quarter of FY24. Simultaneously, the net profit saw a 7.3% rise, increasing from ₹4,854 crore to ₹5,209 crore over the same period.
NTPC shares have gained 53 percent in the last six months, for a multibagger return of 102 percent in a year.
NTPC is an energy company. It has a presence in the entire value chain of the power generation business. The company produces electricity and sells it to state power utilities on a wholesale basis.
NTPC generates electricity using coal, gas, liquid fuel, hydro, and other renewable sources. It also provides consultancy, e-mobility solutions, project management, and supervision; holds interests in coal mining blocks; and carries out energy trading, oil, and gas exploration, training of power professionals, rural electrification, ash utilisation, and coal mining. NTPC is headquartered in New Delhi, India.
NTPC’s plant load factor, or capacity utilization, of coal-based thermal power plants, increased to 75.95% in the quarter, up from 68.85% a year ago. During the October-December quarter, domestic coal supply rose to 60.23 million metric tonnes (MMT), compared to 52.45 MMT in the same period last fiscal year.
The company’s average tariff stood at Rs 4.57 per unit for April-December in the current fiscal, showing a decrease from Rs 4.96 per unit a year ago. NTPC’s gross electricity generation saw a growth, reaching 89.467 billion units (BU) during the third quarter, up from 78.646 BU in the corresponding period last year.
Written by Omkar Chitnis
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
