Following the signing of a Memorandum of Understanding (MoU) for the development of renewable energy power parks and projects with Mahatma Phule Renewable Energy and Infrastructure Technology, NTPC Green Energy, the PSU's subsidiary, made headlines today about its shares.
In early trade, NTPC shares were trading at Rs 353.80, unchanged from the previous close of Rs 355.65 on the BSE. NTPC's stock had previously opened higher on the BSE at Rs 357. In a year, NTPC shares have increased by 101%, and in two years, they have increased by 123%. On the BSE, NTPC's market value increased to Rs 3.44 lakh crore. A total of 0.70 lakh of the company's shares were traded, generating a turnover of Rs 2.47 crore.
The stock reached a 52-week high of Rs 380.40 on May 3, 2024, after plunging to a 52-week low of Rs 171.90 on June 1, 2023.
Technically speaking, the NTPC stock's relative strength index (RSI) is 52.2, indicating that it is not trading in the overbought or oversold range. With a beta of 0.9, the stock indicates minimal annual volatility. In comparison to the 50-, 100-, and 200-day moving averages, as well as the 5-, 10-, and 20-day moving averages, NTPC shares are currently trading higher.
"NTPC Green Energy Limited (NGEL) and Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT) signed a Memorandum of Understanding (MoU) on May 8, 2024 at NTPC Corporate Office, New Delhi for development of Renewable Energy Power Parks and Projects in order to realize the green energy objectives of NTPC and the GOI's efforts towards energy transition," the company stated in a communication to bourses.
