Stock Watch: NTPC shares in focus after subsidiary signs MoU with Rajasthan govt for 25-GW renewable energy projects
NTPC are in focus on Tuesday after its subsidiary company NTPC Green Energy signed a memorandum of understanding (MoU) with the Rajasthan government for a 25-gigawatt renewable energy project.
«On the occasion of Rising Rajasthan Investor Meet at New Delhi, NTPC Green Energy Limited (NGEL), a wholly-owned subsidiary of NTPC Ltd, signed a Memorandum of Understanding (MoU) with Govt of Rajasthan on 30th September 2024 for the development of 25 GW of Renewable Energy Projects in the State of Rajasthan,» the company said in an exchange filing.
On Monday, NTPC's shares closed at Rs 443.1, up 1.3% on the BSE, while the benchmark Sensex fell 1.49%. The shares have surged 43% in 2024 to date and 175% over the past two years, with the company currently holding a market capitalization of Rs 4,29,659 crore.
NTPC reported a standalone net profit of Rs 4511 crore for the quarter ended June 30, 2024, up 11% YoY, while the revenue from operations went up to Rs 44,419.22 crore in the same period. The revenue was up by 13.5% on a year-on-year basis from Rs 39,122.25 crore in the same quarter a year ago.
The total income of the company also rose by 13.5% to Rs 45,053.04 crore, while its total expenses were recorded at Rs 38,276.03 crore in Q1FY25. The total expenses increased by Rs 4,748 crore on a YoY basis.
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