Electrifying performance by NTPC!

Electrifying performance by NTPC!

by 5paisa Research Team Last Updated: 2022-04-01T15:40:50+05:30

As bulls dominate the proceedings on Dalal Street, NTPC grabs the spotlight as it gains over 6% today.

NTPC or National Thermal Power Corporation, the largest energy conglomerate in the country, generates electricity using hydro, nuclear and renewable energy sources. This large-cap PSU delivered a phenomenal performance with the highest ever annual generation of 360 billion units, a growth of 14.6% compared to the previous year. NTPC also recorded the highest ever single-day generation of 1215.68 million units (Group) and 1013.45 million units (NTPC).

The company is set on a path to reduce carbon footprint, that's why it is increasing its Renewable portfolio and has received approval from the Ministry of New and Renewable Energy (MNRE) for setting up one of the largest 4750 MW Renewable Energy in Rann of Kutch, Gujarat. NTPC has also set a new target of installing 60 GW of renewable energy capacity by 2032.

In FY21, it also expanded in areas like green hydrogen, waste to energy and e-mobility. It has become India’s first energy company to declare its energy compact goals as part of the UN High-level Dialogue on Energy (HLDE). Damodar Valley Corporation has signed a joint venture agreement with NTPC Renewable Energy, NTPC’s wholly-owned subsidiary renewable power projects in its area. DVC will hold 49% and NTPC will hold 51% in this joint venture.

Today it announced the commencement of its first part of commercial operation of 22 megawatts out of 92 MW Kayamkulam Floating Solar PV Project in Kerala. All this combined has received a positive response from investors as the share price has rallied since the market opened. As of 3:20 pm, the stock is up by 8.25 points and currently trading at Rs 143.25.

The 52-week high of this stock is Rs 152.10 and 52-week low is Rs 97.05. Analysts have also given a green signal for this largecap PSU.

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