Action seen in NTPC stock due to this news
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Multibagger Stocks: The condition of the Indian stock market is dull on the second trading day of the week. At 9.40 am, Sensex is trading 47 points down at 73,967.43. Whereas, Nifty is trading 14.65 points down at 22,447.35. Meanwhile, the stock of public sector power company NTPC is seeing a rise. The company’s stock is trading at Rs 344.05 with an increase of 0.50 percent i.e. Rs 1.70. Earlier today, the stock had opened at Rs 343. Which reached Rs 345.60 during trading at 9.20 am. Earlier, on Monday, the company’s stock had closed at Rs 342.25 with a green mark.
Why is the stock rising?
According to market information, public sector power company NTPC has acquired renewable energy projects of 3,445 MW capacity in the financial year ending March 31, 2024. The company was successful in a record 58 percent of the tenders it bid for. This is the highest since the company has been bidding. At present, NTPC’s renewable energy capacity is 3,500 MW. Apart from this, projects of more than 20,000 MW capacity are in the pipeline. NTPC Ltd. under the Ministry of Power. The total installed capacity is 76,000 MW.
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What is the condition of the stock?
NTPC stock has given a return of about 5.81 percent to investors in the last five days. Whereas, if we talk about the last one month, investors have got a negative return of 3.02 percent. On the other hand, investors have got 42.27 percent return from the company’s stock on a six-monthly basis and 93 percent profit on an annual basis. A year ago, on April 3, 2023, the company’s stock price was Rs 177.80.
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