NTPC Green shares hit at 10% upper circuit, rises by 32% over issue price

Shares of NTPC Green Energy (NGEL) reached the upper circuit limit of 10 percent, trading at Rs 142.10, which is also a new high since its listing, on the BSE at 09:55 AM on Tuesday. The counter saw only buyers, with a total of 57.68 million shares changing hands, while there were pending buy orders for an additional 5.42 million shares on both the NSE and BSE.

With today’s rally, the stock price of NGEL has surged 32 percent from its issue price of Rs 108 per share. The state-owned renewable power generation company made its stock market debut on November 27, 2024.

The share price hit the 10% upper circuit and the highest level since listing. This compares to a 0.25% advance in the NSE Nifty 50 index. It has risen 16.83% on a year-to-date basis, and the stock is trading 0.9 times its 30-day volume.
 

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As per the analyst's venture’s IPO, along with the expansion into green hydrogen and battery storage, NGEL is also developing a hydrogen hub in Andhra Pradesh and grid-scale storage facilities for RE integration. Its strong ties with NTPC enable it to access low-cost debt at approximately 7 percent, supporting its ambitious growth strategy, said analysts at Elara Capital.

The government’s target of 450GW of renewable capacity by 2030F, supported by inter-state transmission charge waivers, renewable purchase obligations (RPOs), and a Rs 19,700 crore Green Hydrogen Mission, creates robust growth opportunities. Additionally, reducing solar module prices at $0.09 per watt-peak and rising hybrid project tariff (Rs 3.15-3.20/kWh) improve project viability and sectoral profitability

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