NTPC Green shares gain 4% in trade; What's boosting upmove in stock?

NTPC Green Energy shares advanced 3.6 per cent in Monday's trade on BSE, logging an intraday high at Rs 133.05 per share. The stock was in demand after the company arm NTPC Renewable Energy emerged as a successful bidder in the e-reverse auction conducted by Uttar Pradesh Power Corporation. Additionally, NTPC Green and Uttar Pradesh Rajya Vidyut Utpadan Nigam formed a joint venture to develop, operate, and maintain Renewable Energy Parks and projects.

 

However, around 10:07 AM, NTPC Green share price pared gains and was up 0.27 per cent at Rs 128.7 per share on BSE. In comparison, the BSE Sensex was up 0.10 per cent at 79,302.39. The market capitalisation of the company stood at Rs 1,08,531.13 crore. The 52-week high of the stock stood at Rs 155.3 per share and the 52-week low of the stock stood at Rs 111.6 per share.

 

NTPC Green arm successful bidder in the e-reverse auction

As per the filing, NTPC Renewable Energy, subsidiary of NTPC Green Energy Limited emerged as a successful bidder in the e-reverse auction conducted by Uttar Pradesh Power Corporation Limited. 

 

The tender was conducted on January 3, 2025, and aimed at the selection of solar power developers for setting up 2000 MW ISTS-connected solar PV power projects in India under tariff-based competitive bidding.

NTPC and UP Rajya Vidyut Utpadan Nigam joint venture (JV)

NTPC Green Energy and Uttar Pradesh Rajya Vidyut Utpadan Nigam formed a JV named 'NTPC UP Green Energy' to develop, operate and maintain renewable energy parks and projects.

 

It is a 51:49 joint venture in which NTPC Green holds 51 per cent stakes and has subscribed 51,000 equity shares at the face value of Rs 10 each.

 

NTPC Green Energy is a subsidiary of NTPC Limited, which is India's largest power utility. NTPC has been increasingly focusing on renewable energy as part of its efforts to transition towards cleaner, more sustainable energy sources. The establishment of NTPC Green Energy marks a significant step in the company's strategy to diversify into solar, wind, and other renewable energy projects.