NTPC share prices up 1% in intraday trade; announcement of energy compact goals key trigger, analyst Simi Bhaumik says
NTPC Limited shares grew over 1 per cent to Rs 117.8 per share on the BSE in the intraday trade today. NTPC declared its energy compact goals towards sustainability thus becomes the first company in the domain to do so. Analyst Simi Bhaumik says that the stock has been triggered by the announcement of this news.
NTPC Limited shares grew over 1 per cent to Rs 117.8 per share on the BSE in the intraday trade today. NTPC declared its energy compact goals towards sustainability thus becomes the first company in the domain to do so. Analyst Simi Bhaumik says that the stock has been triggered by the announcement of this news.
“NTPC became the first energy company in India to declare its Energy Compact goals as part of UN High-level Dialogue on Energy (HLDE),” according to a press statement by the Ministry of Power.
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It has set a target to install 60 GW of renewable energy capacity by 2032 and aims to cut 10 per cent in net energy intensity by 2032, the government release said.
The company has declared that it will form at least two international alliances or groups to facilitate clean energy research and promote sustainability in the energy value chain by 2025, the statement reads.
NTPC, which is India’s largest power generating state-owned company is among the few organisations, globally, to declare its energy compact goals.
NTPC is taking various steps in increasing its green energy portfolio by adding significant capacities of Renewable Energy (RE) sources and had planned to have a minimum of 32 GW capacity through RE sources constituting nearly 25 per cent of overall power generation capacity by 2032.
The market analyst Simi Bhaumik confirming this news as a positive for NTPC, she affirms not just NTPC, but the overall power sector looks good, with Adani Power and Tata Power leading the sector.
The stock is trading near its 52-week high levels of Rs 121 per share, which she said was a breakout level and is also a short-term target for this stock. Existing investors should hold this stock with a 1-month view and a target price of Rs 130-135.
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