NTPC Green Energy share price inches closer to lifetime high after THIS order book update

Stock market today: Shares of NTPC Green Energy Limited (NGEL) gained momentum on Wednesday, December 11 after its subsidiary, NTPC Renewable Energy Limited (REL), secured a significant contract in an e-reverse auction conducted by the Solar Energy Corporation of India (SECI).

NGEL’s share price gained as much as 5.21 per cent to ₹154.30 on the BSE, inching closer to its record high of ₹155.30 achieved on November 4, 2024. The company’s market capitalization rose to ₹1.23 lakh crore, with a trading turnover of ₹56.68 crore.

Why is NTPC Green share price in green?

The auction, held on December 9, 2024, was for the development of 2,000 MW ISTS-connected Solar PV Power Projects. As part of the project, NTPC REL successfully bid for 500 MW of solar power capacity at a tariff of ₹3.52 per kWh. Additionally, the tender mandates the establishment of Energy Storage Systems (ESS) with a total capacity of 1,000 MW/4,000 MWh, of which NTPC REL is required to set up 250 MW/1,000 MWh in conjunction with its solar power projects. The Letter of Award (LOA) from SECI is currently awaited.

NTPC Green Energy, which debuted on the stock exchanges on November 27, 2024, has seen a steady performance since its initial public offering (IPO). The IPO, which was open from November 19–22, raised ₹10,000 crore through fresh issuance of 92.59 crore equity shares. The issue was priced at ₹102–108 per share. The IPO was subscribed 2.42 times, and the stock listed at ₹111.60 on the BSE, reflecting a premium of 3.33% over the issue price.

As of 10.50 am, the stock was trading at ₹149.05 on the BSE, up 1.64%.

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