NTPC Green Energy shares climb 14% in 2 days; is more steam left?

NTPC Green Energy Ltd shares extended their gains for the second consecutive session on Thursday, driven by strong quarterly earnings. The stock jumped 11.82 per cent to hit a day high of Rs 117.80. At this price, it has moved up 14.37 per cent in two days. NTPC Green is a wholly-owned subsidiary of state-run NTPC Ltd.

The company recorded a 188.09 per cent year-on-year (YoY) surge in its consolidated net profit for the January-March 2025 (Q4 FY25). During the quarter under review, profit came at Rs 233.21 crore as against Rs 80.95 crore in the corresponding period last year.

Revenue from operations climbed 22.46 per cent to Rs 622.27 crore in Q4 FY25 from Rs 508.14 crore in the year-ago period. The firm's expenses rose 4.41 per cent to Rs 444.63 crore YoY.

Sequentially, profit skyrocketed by 255.45 and revenue moved up 23.20 per cent. Expenses, on the other hand, declined by 7.80 per cent quarter-on-quarter (QoQ).

On technical setup, support on the counter could be seen in the Rs 106-98 range. An analyst suggested that the stock looked slightly bearish in the near term.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "An authoritative move beyond Rs 110 is likely to provide thrust in momentum. On the contrary, the Rs 101-98 zone may cushion any shortcoming in the near period.

Sebi-registered independent research analyst AR Ramachandran said the counter looked slightly bearish on charts with strong resistance at Rs 118, and a daily close below support of Rs 106 could lead to a downward target of 94 in the near term.

Technically, the scrip traded higher than the 5-day, 10-, 20-, 30-, 50-day and 100-day simple moving averages (SMAs). The stock's 14-day relative strength index (RSI) came at 54.51. A level below 30 is defined as oversold while a value above 70 is considered overbought.

NTPC Green is a renewable energy company focused on undertaking projects via organic and inorganic routes. As of March 2024, the government held an 89.01 per cent stake in the renewable energy firm.