NTPC Green Energy Shares Surge 10% Post Muted Listing
NTPC Green Energy stock price climbed 13.56% in early trade from its IPO price, showing strong investor interest despite a modest listing debut on November 27. The stock hit the 10% upper circuit on the NSE, locking in at ₹122.65 per share.
The company’s IPO, priced at ₹108 per share, reflects investor optimism about India’s clean energy push and the government’s focus on renewable energy. NTPC Green Energy is the renewable energy arm of NTPC Ltd, India’s largest power producer.
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Listing Performance
On the NSE, NTPC Green Energy debuted at ₹111.50 per share, a premium of 3.24% over its issue price. Similarly, on the BSE, the stock opened at ₹111.60, marking a 3.33% premium.
Despite the subdued listing, the stock quickly gained traction as traders and investors turned their focus to the company’s strategic role in India’s energy transition.
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Key Insights from NTPC Green’s IPO
Largest Renewable Energy IPO: NTPC Green’s IPO is the largest in India’s renewable energy space, as per Dealogic data.
Use of Funds: Proceeds from the IPO will be used to repay the debt of NTPC Renewable Energy, its unit, while NTPC Ltd retains its stake.
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Analyst Views on NTPC Green Energy
Prashanth Tapse, Senior VP (Research) at Mehta Equities, views NTPC Green Energy as a strong long-term investment.
“For long-term investors, NTPC Green Energy Ltd is a solid opportunity. Backed by NTPC’s resources and expertise, it is poised to lead India’s renewable energy sector,” he said.
Tapse advised allotted investors to hold the stock for the long term, despite potential short-term market volatility. He also recommended non-allotted investors accumulate shares if prices hover around the issue price or dip below it.
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Growth Prospects
NTPC Green Energy is positioned to leverage its investments in green hydrogen, green chemicals, and battery storage to drive future growth. These initiatives not only align with India’s renewable energy goals but also position NTPC Green as a key player in the energy transition space.
Investors are betting on the company’s ability to tap into India’s growing demand for clean energy solutions, making it a stock to watch in the renewable energy sector.
Stay tuned for more updates on NTPC Green Energy and other trending market news at TradingThought.
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Disclaimer: This article is for informational purposes only. Consult your financial advisor before making investment decisions.