The shares of government-owned NTPC Green rose significantly, only to quickly decline thereafter. The renewables arm of NTPC has been in focus after the company pledged a massive Rs 2 lakh crore investment in the state of Madhya Pradesh.
NTPC Green Signs MoUs With MP
The company said that it would have signed multiple memorandums of understanding (MoUs) with the state government of Madhya Pradesh as part of its plans to invest over Rs 2 lakh crore in renewable energy projects.
One of the key investment avenues includes the establishment of renewable energy projects of up to 20 GW or more.
Another deal was signed for developing sustainable non-hydrocarbon fuel power plants. This reportedly carries an estimated investment of Rs 80,000 crore.
This deal between NTPC Green and the Madhya Pradesh government looks to foster sustainability and energy transition for India to attain its net-zero goals. The investment will focus on different avenues of renewable energy, including solar, wind and hydrogen.
When we look at the company shares, after trading in negative territory for the better part of the past 5 trading sessions, the company shares increased in value on Tuesday, February 25.
NTPC Green
On Tuesday, the company shares opened at Rs 101.01, higher than the previous day’s Rs 98.40; it even hit the day high of Rs 103.22.
However, the momentum could not be sustained, as the company shares dipped while continuing to trade in green while dipping below the milestone mark of Rs 100 per share.
At the time of writing, the company shares were trading at Rs 99.00 per piece, having made gains of 0.61 per cent or Rs 0.60.
Over the past 5 trading sessions, the company shares have dipped by a 5.64 per cent or Rs 5.92. In addition, over the past month of trade, the NTPC Green shares have dipped by a total of Rs 9.10 or 8.42 per cent.
