NTPC Green Energy Share Price: PSU Falls By 8% In 6-Sessions, Nears 52-Week Low: Q3 Date Out, Buy Power Stock?

NTPC Green Energy Share Price: The PSU green energy giant has witnessed selling pressure for a sixth consecutive session on January 23. The stock price has nosedived by more than 8% during this period and is now a little over Rs 3 away from its 52-week low. NTPC Green Energy is going to be in focus due to its upcoming Q3FY25 results on January 25. Is it the right time to buy this power stock?

NTPC Green Energy Share Price:

At the time of writing, NTPC Green stock performed at Rs 113.45 apiece on BSE, down by 0.7% with a market cap of Rs 95,596.71 crore. The stock traded near its intraday low of Rs 112.50 apiece, which is near its 52-week low of Rs 109.40 apiece.

The stock is down by nearly 28% from its 52-week high of Rs 155.30 apiece. NTPC Green Energy was among the biggest IPOs of 2024, with the healthy listing.

The IPO was an entirely fresh issue worth Rs 10,000 crore and opened on Tuesday, November 19, 2024. Subscription closed on Friday, November 22, 2024. The price band for the Offer was determined at Rs 102 - Rs 108 per equity share. The issue price of the IPO was fixed at Ras 108 apiece. The IPO overall received a subscription of 2.42x.

NTPC Green Energy Q3 Results:

NTPC Green has announced that a Meeting of the Board of Directors of the Company is scheduled to be held in New Delhi on Saturday, 25th January 2025 to, inter-alia, consider, approve and take on record the Un-audited Financial Results of the Company for the quarter and nine months ended on 31st December 2024 after these results are reviewed by the Audit Committee of the Board.

This will be the company's first financial report on BSE and NSE after its listing.

NTPC Green Energy Share Recommendation:

Earlier, Elara Capital had highlighted that NGEL manages a portfolio of solar and wind assets in multiple regions, with 4,294MW of operational capacity and an average PPA tenure of 25 years. It aims to add 16GW of RE within three years to reach 60GW capacity by 2032. The company plans to commission 3GW in FY25, 5GW in FY26, and 8GW in FY27. Strategic MoUs with Rajasthan (25GW) and Maharashtra (10GW) provide a robust pipeline for achieving these goals.

Also, Elara's note said, NGEL is advancing into hydrogen and battery storage technologies. It is developing a green hydrogen hub at Pudimadaka, Andhra Pradesh, and is finalizing partnerships for electrolyzer production. In battery storage, it plans to install grid-scale facilities to support solar and wind power, while participating in standalone grid-scale storage tenders for grid balancing. Leveraging NTPC's established reputation, NGEL benefits from strong operational and strategic ties,

The key announcement is expected in Budget 2025 for the renewable energy sector.

Brokerage Nuvama stated that NITI Aayog is framing guidelines for India's energy transition, balancing employment, growth and environmental sustainability. A policy document is expected as part of the FY25 budget. Key initiatives include NTPC Green Energy Limited's planned investment of INR80,000 crore in Maharashtra for green hydrogen, ammonia and methanol projects, alongside 2GW of pumped storage and up to 5 GW of renewable energy projects, aligning with its target of 60 GW renewable capacity by 2032.

At the latest, experts at Religare Broking and StoxBox predict a target price of Rs 125 and Rs 126 for NTPC Green. They both see the stock to have support between Rs 112 to Rs 120 in the near term. However, experts believe that traders should make fresh buying only when the stock breaks above Rs 126 levels.

NGEL is an umbrella company for the green business initiatives of NTPC and undertakes projects through organic and inorganic routes and aims to be the flag-bearer of NTPC's green energy journey to achieve the ambitious target of 60 GW by FY 32.