LIC-Backed PSU Power Company Declares Commercial Operation of Solar Projects in Madhya Pradesh and Rajasthan – President of India Holds 51.10 Per cent Stake in the Company!

Rakesh Deshmukh
LIC-Backed PSU Power Company Declares Commercial Operation of Solar Projects in Madhya Pradesh and Rajasthan – President of India Holds 51.10 Per cent Stake in the Company!

The company’s shares have delivered an impressive multibagger return of over 175 per cent in the past 2 years.

NTPC Renewable Energy Limited (NTPC REL), a step-down subsidiary of NTPC Limited through NTPC Green Energy Limited (NGEL), has successfully commenced commercial operations of two solar projects.

The first phase of the Shajapur Solar Project, with a capacity of 50 MW out of 220 MW, located in Shajapur Solar Park, Madhya Pradesh, was declared operational following successful commissioning and approvals. Additionally, the second phase of the Shambu ki Burj-2 Solar PV Project in Bikaner, Rajasthan, with a capacity of 98.78 MW out of 300 MW, also began operations.

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The commercial operation of both projects was effective from 23:00 hours on September 30, 2024. With the addition of these capacities, NTPC Group's total installed and operational capacity now stands at 76,442.78 MW.

On Tuesday, the shares of NTPC Limited closed the day at around Rs 440 per share on the BSE. The company’s current market capitalization stands at Rs 4,26 Lakh crore. Additionally, the shares have delivered an impressive return of around 80 per cent in the past 1 year.

As per the Quarterly Results, NTPC Limited recorded a revenue of Rs 48521 crore compared to Rs 43075 crore. The operating profit stood at Rs 13429 crore compared to Rs 12411 same quarter last year. The net profit stood at Rs 5506 crore compared to a profit of Rs 4907 crore same period.

NTPC (National Thermal Power Corporation) Ltd is a Large-Cap company, along with its subsidiaries, associates, and JVs, and is primarily involved in the generation and sale of bulk power to state power utilities. Other businesses of the group include consultancy, project management and supervision, energy trading, oil and gas exploration, and coal mining.

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Investors must keep this stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.

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