NTPC Green Energy share price inches close to lifetime high after THIS order book update | Stock Market News
Source: Live Mint
Stock in focus: Shares of NTPC Green Energy Limited (NGEL) gained momentum after its subsidiary, NTPC Renewable Energy Limited (REL), secured a significant contract in an e-reverse auction conducted by the Solar Energy Corporation of India (SECI), the company announced in an exchange filing.
The announcement positively impacted NGEL’s share price, which climbed 3.5% to ₹151.9 on the BSE at 9:15 am, on December 11, inching closer to its record high of ₹155.30 achieved on November 4, 2024. The company’s market capitalization rose to ₹1.23 lakh crore, with a trading turnover of ₹56.68 crore.
Why is NTPC Green share price in green?
The auction, held on December 9, 2024, was for the development of 2,000 MW ISTS-connected Solar PV Power Projects. As part of the project, NTPC REL successfully bid for 500 MW of solar power capacity at a tariff of ₹3.52 per kWh. Additionally, the tender mandates the establishment of Energy Storage Systems (ESS) with a total capacity of 1,000 MW/4,000 MWh, of which NTPC REL is required to set up 250 MW/1,000 MWh in conjunction with its solar power projects. The Letter of Award (LOA) from SECI is currently awaited.
In an official statement, the company said, “NTPC Renewable Energy Limited, a wholly owned subsidiary of NTPC Green Energy Limited, has emerged as a successful bidder in the SECI auction for the development of 2,000 MW ISTS-connected Solar PV Power Projects. The auction also includes the establishment of Energy Storage Systems (ESS) with a total capacity of 1,000 MW/4,000 MWh. NTPC REL secured 500 MW of solar capacity at a tariff of ₹3.52 per kWh. The LOA from SECI is awaited.”
NTPC Green Energy, which debuted on the stock exchanges on November 27, 2024, has seen a steady performance since its initial public offering (IPO). The IPO, open from November 19–22, raised ₹10,000 crore through the fresh issuance of 92.59 crore equity shares at a price band of ₹102–108 per share. The issue was subscribed 2.42 times, and the stock was listed at ₹111.60 on the BSE, reflecting a premium of 3.33% over the issue price.
