NTPC shares in focus today as PM Modi to inaugurate projects worth Rs 30,000 crore

Shares of state-owned NTPC Ltd are in news as Prime Minister Narendra Modi will lay the foundation of various projects worth Rs 30,023 crore today.

Additionally, the power producer said its board has approved investment for the Singrauli super thermal power project, Stage III (2x800 MW). The estimated cost of the project is Rs 17,195.31 crore.,

NTPC shares ended 0.47% lower at Rs 341.85 on Saturday against the previous close of Rs 343.5 on BSE. Earlier, NTPC stock opened higher at Rs 344 on BSE. NTPC shares have rallied 100 per cent in a year and risen 48.24 per cent in six months.

Market cap of NTPC stood at Rs 3.31 lakh crore on BSE. Total 0.28 lakh shares of the firm changed hands amounting to a turnover of Rs 97.22 lakh.

The stock hit a 52-week low of Rs 166.65 on April 4, 2023 and touched a record high of Rs 350 on March 2, 2024. The stock has a beta of 0.6, indicating low volatility in a year.

In terms of technicals, the relative strength index (RSI) of  NTPC stock stands at 60, signaling it's neither trading in the overbought nor in the oversold zone. NTPC shares stand higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages. 

NTPC reported a 7% year-on-year growth in its consolidated net profit to Rs 5,209 crore in Q3 against Rs 4,854 crore a year ago. On a sequential basis, net profit climbed 10% from Rs 4,726 crore posted in the preceding September quarter. Revenue from operations fell 4% year-on-year to Rs 42,820 crore in the last quarter against Rs 44,602 crore in the corresponding period of last year.