NTPC Shares Rise 1% on Completion of Telangana Super Thermal Power Project
Shares of NTPC Limited rose 1% in early trade on September 13, 2023, after the company announced that it has completed Unit-1 of 800 megawatts (MW) of the Telangana Super Thermal Power Project.
The company said that the unit has been synchronized to the grid and is now generating power. The project is located in Ramagundam district of Telangana and is being developed by NTPC Vidyut Vyapar Nigam Limited (NVVN).
The completion of the unit is a major milestone for NTPC and will help to boost the power supply in the region. The project is also expected to create jobs and boost economic activity in the area.
The stock had fallen over 3% on September 12, 2023, after the company announced a muted performance for the quarter ended June 2023. However, the recent rise in the stock price is a sign that investors are positive about the company’s prospects.
NTPC is one of the largest power generation companies in India and has a diversified portfolio of assets. The company is also one of the most dividend-paying companies in India.
The company’s growth drivers include the ongoing expansion of its power generation capacity, the development of renewable energy projects, and the growth of its non-power businesses.
NTPC is well-positioned to capitalize on the growing demand for power in India. The company has a strong track record of execution and is committed to providing reliable and affordable power to its customers.
The recent rise in the stock price is a positive development for NTPC and is a reflection of the confidence that investors have in the company’s future.
Related News
- 22 Sep
Technical Analysis Report for Nifty and Three Buy Calls
The Nifty index has been on a strong uptrend in the past three weeks, but it has recently retraced some of those gains. It is now expected to oscillate within the 19,605 to 19,878 range over the next few sessions. Three stocks that look good for buying over the next 2-3 weeks are Havells India, KSB, and Gujarat Ambuja Exports. All three stocks have strong bullish momentum and are trading above their key moving averages.
- 22 Sep
Maruti Suzuki Stock Gains on Bullish Stance from Global Brokerages
Maruti Suzuki stock gains on bullish stance from global brokerages Shares of Maruti Suzuki India surged on Friday after global brokerages Citi and Morgan Stanley maintained bullish stance on the counter. Both brokerages cited the company's improving product mix and attractive valuation as key reasons for their optimism. In addition, Maruti Suzuki reported strong sales performance in August 2023, with total domestic sales jumping 14 percent year-on-year and sale of utility vehicles jumping 118 percent year-on-year. Overall, the bullish stance from global brokerages and the company's strong sales performance are providing a boost to Maruti Suzuki stock.
- 22 Sep
PNB Gilts Hits Upper Circuit on Inclusion of Indian Bonds in JPMorgan Index
Shares of PNB Gilts hit upper circuit on September 22, 2023, following news that India's inclusion in JPMorgan's bond index is seen driving billions of dollars of inflows. The index provider will add Indian bonds to its widely-tracked emerging market index starting June 28, 2024. PNB Gilts is a primary dealer in government securities and other fixed-income instruments. The inclusion of Indian bonds in JPMorgan's index is expected to attract significant foreign inflows, which is likely to benefit PNB Gilts and other primary dealers in government securities.
- 22 Sep
Indian Bond Markets to Remain Stable in Near Term After JPMorgan Inclusion
Indian bond markets are expected to remain stable in the near term after JPMorgan's inclusion of India in its widely tracked emerging market debt index, according to BlackRock's head of Asia Pacific fixed income, Neeraj Seth. Seth expects inflows of around $20 billion to $25 billion into India after the maximum weight threshold is achieved on the GBI-EM index. Given the size of the global government bond market, this is relatively small and is unlikely to have a significant impact on volatility.
- 22 Sep
Indian market drops on September 22 despite inclusion of Indian bonds in JP Morgan index
Indian benchmark indices Sensex and Nifty fell for the fourth consecutive day on September 22, despite the inclusion of Indian bonds in the JP Morgan Government Bond Index-Emerging Markets (GBI-EM) global index suite from June 2024. The market is expected to remain volatile in the near term, with key support at 19,600 for Nifty.
Leave a Reply