PM Modi inaugurates energy projects in Telangana; here's how NTPC, PowerGrid, NHPC and SJVN are faring

Power stocks such as PowerGrid, NTPC, SJVN, and JSW Energy were trading up, while NHPC was down on BSE on Monday (March 4, 2024) on a day when Prime Minister Narendra Modi inaugurated energy projects in Adilabad, Telangana. He is set to visit many other states to inaugurate more energy projects. 

PM Modi visited Adilabad, Telangana, on Monday and inaugurated many development projects worth more than Rs 56,000 crore related to the power, rail and road sectors.

He is set to visit Tamil Nadu, Odisha, West Bengal, and Bihar from March 4-6, 2024, to inaugurate more energy projects.

As the power sector is set to get a tremendous boost through the multitude of projects to be inaugurated by the PM, we will take you through the performance of the leading energy stocks such as PowerGrid, NTPC, NHPC, SJVN, and JSW Energy.

PowerGrid

PowerGrid hit an all-time high of 297.05 on Monday after closing at Rs 504.65 on Friday.

The stock of the power company closed the trading on Monday up by 2.63 per cent, or Rs 7.55, at Rs 294.45.

NTPC

NTPC hit an all-time high of Rs 358.00 in morning deals on Monday after the company got an order of over Rs 17,000 crore.

The stock ended trading on Monday higher by 3.50 per cent, or Rs 11.95 at Rs 353.80 on Monday.

The stock jumped 4.72 per cent to the day's high from the previous close of Rs 341.85. 

On Sunday, NTPC got an order worth Rs 17195.31 crore.

"We wish to inform that the Board of Directors of the Company, in its meeting held on 3rd March 2024, has accorded investment approval for Singrauli Super Thermal Power Project, Stage-III (2x800 MW) at an appraised current estimated cost of Rs. 17,195.31 crore," NTPC said in a statement.

NHPC

The stock was trading down in the first session after the energy PSU appointed Rajendra Prasad Goyal as its new chairman and managing director.

The NHPC stock was ended the session on Monday lower by 1.43 per cent, or Rs 1.29, at Rs 89.13. 

"It is to inform that as per the Ministry of Power (MoP), Govt. of India order dated 26.02.2024, Shri Rajendra Prasad Goyal (DIN:08645380), Director (Finance), NHPC Limited has assumed the additional charge of the post of Chairman and Managing Director, NHPC Limited on 01.03.2024," NHPC said in a statement.

SJVN

SJVN is trading higher after its subsidiary got an order from the Gujarat government for developing solar power projects in Khavda.

SJVN closed the day up by 1.16 per cent, or Rs 1.40, at Rs 122.30. The stock's maximum high for the day was 3.93 per cent to Rs 125.65 after the previous close of Rs 120.90.

The 200 MW Solar Power Project is to be developed on Build Own and Operate (BOO) basis. The tentative cost of construction/Development of the project shall be around Rs 1,100 crore, SJVN said.

"The project is expected to generate about 504 MUs in the 1st year and the cumulative energy generation over a period of 25 years would be about 11,732 MUs. As per RfS the Project shall be commissioned in a period of 18 Months from the date of signing of PPA. The PPA shall be signed between GUVNL and SGEL for 25 years," said SJVN.

JSW Energy

The power stock jumped by 1.70 per cent in morning deals on Monday. 

The stock ended the trading session higher by 2.47 per cent, or Rs 12.45, at Rs 517.10.