NTPC shares track subsidiary’s push for renewable energy projects

Shares of NTPC are in news today after the PSU’s subsidiary NTPC Green Energy inked a Memorandum of Understanding (MoU) with Mahatma Phule Renewable Energy and Infrastructure Technology for the development of renewable energy power parks and projects.

However, NTPC shares were trading flat in early deals at Rs 353.80 against the previous close of Rs 355.65 on BSE. Earlier, NTPC stock opened higher at Rs 357 on BSE. NTPC shares have gained 101 per cent in one year and risen 123% in two years. Market cap of NTPC rose to Rs 3.44 lakh crore on BSE. Total 0.70 lakh shares of the firm changed hands amounting to a turnover of Rs 2.47 crore.

The stock fell to a 52-week low of Rs 171.90 on June 1, 2023 and rose to a 52 week high of Rs 380.40 on May 3, 2024.

In terms of technicals, the relative strength index (RSI) of  NTPC stock stands at 52.2, signaling it's neither trading in the overbought nor in the oversold zone. The stock has a beta of 0.9 indicating low volatility in a year. NTPC shares are trading higher than the 50 day, 100 day, 200 day and lower than the 5 day, 10 day and 20 day moving averages. 

“In order to realize the green energy objectives of NTPC and the GOI’s efforts towards energy transition, NTPC Green Energy Limited (NGEL) and Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT), signed a Memorandum of Understanding (MoU) on May 8, 2024 at NTPC Corporate Office, New Delhi for development of Renewable Energy Power Parks and Projects,” said NTPC in a communication to bourses.