NTPC Green Energy share price inches closer to lifetime high after THIS order book update

Stock in focus: 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 ESS.

Published11 Dec 2024, 10:06 AM IST

NTPC Green Energy share price: The announcement positively impacted NGEL’s share price, which climbed 3.5% to <span class='webrupee'>₹</span>151.9 on the BSE at 9:15 am, on December 11, inching closer to its record high of <span class='webrupee'>₹</span>155.30 achieved on November 4, 2024. — NTPC Green Energy share price: 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.

Stock market today: Shares of NTPC Green Energy Limited (NGEL) gained momentum on Wednesday, December 11 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).

NGEL’s share price gained as much as 5.21 per cent to ₹154.30 on the BSE, 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.

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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.

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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, which was open from November 19–22, raised ₹10,000 crore through fresh issuance of 92.59 crore equity shares. The issue was priced at ₹102–108 per share. The IPO was subscribed 2.42 times, and the stock listed at ₹111.60 on the BSE, reflecting a premium of 3.33% over the issue price.

Also Read | NGEL, HMEL join hands to explore opportunities in generation of GH

As of 10.50 am, the stock was trading at ₹149.05 on the BSE, up 1.64%.

Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.

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First Published:11 Dec 2024, 10:06 AM IST

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