NTPC unit inks MoU with Chhattisgarh State Power Generation Co; stock up 2%

NTPC share price rose after the company announced that its unit, NTPC Green Energy has signed a MoU with CSPGCL to develop up to 2000 MW renewable energy projects including floating solar

NTPC share price: Shares of NTPC rose up to 2.37 per cent to hit an intraday high of Rs 370.25 per share on Wednesday, November 27, 2024. 

 

The rise in NTPC share price came after the company announced that a Memorandum of Understanding (MoU) was signed on November 26, 2024 in Raipur between NTPC Green Energy Limited (NGEL) and Chhattisgarh State Power Generation Co. Ltd. (CSPGCL) to develop up to 2000 MW renewable energy projects including floating solar. 

 

“The MoU was exchanged between Chief Engineer (CP & BD) CSPGCL, G K Gupta and general manager (engineering) NGEL, D Joshi, in the presence of S K Katiyar, managing director CSPGCL, P K Mishra, regional executive director (WR-II) NTPC, and other dignitaries from NGEL, NTPC, and CSPGCL,” NTPC said in a statement.

 

NTPC Q2 results 

 

NTPC’s consolidated net profit jumped 14 per cent year-on-year (Y-o-Y) to Rs 5,380.2 crore in the September quarter of financial year 2025 (Q2FY25), as against Rs 4,726.4 crore in the same quarter a year ago (Q2FY24). The total income, however, fell to Rs 45,197.8 crore in the quarter from Rs 45,384.6 crore in the same quarter last year.

 

The company also approved the first interim dividend of Rs 2.50 per share on the face value of paid-up equity shares of Rs 10 each for FY25. 

 

About NTPC

 

NTPC Limited, previously known as the National Thermal Power Corporation, stands as India’s largest power utility and a prominent public sector undertaking (PSU). Established on November 7, 1975, and headquartered in New Delhi, NTPC is committed to generating and distributing electricity while engaging in diverse activities such as coal mining, oil and gas exploration, and power trading.

 

NTPC offers a wide range of services, including consultancy, project management, construction management, and the operation and management of power plants. It is listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), focusing on setting up power projects, optimising energy sources, and implementing innovative eco-friendly technologies.

 

NTPC share price history

 

NTPC shares have fallen over 10 per cent in the past month, but have zoomed over 40 per cent in the past year. 

 

At 11:01 AM, NTPC shares were trading 1.99 per cent higher at Rs 368.85 per share. In comparison, BSE Sensex was trading flat (0.01 per cent higher) at 80,011.72 levels.