NTPC Green Energy's IPO
On November 27, 2024, NTPC Green Energy Limited (NGEL), the renewable energy arm of India’s leading power producer NTPC Limited, made a significant entrance into the stock market. The company’s shares debuted at ₹111.50 on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), marking a modest 3.2% premium over the initial public offering (IPO) price of ₹108. Economic Times Despite the subdued listing, investor confidence quickly propelled the stock to an intraday high of ₹122.65, reflecting a 13.56% increase from the issue price. LiveMint This positive momentum underscores the growing investor interest in India’s renewable energy sector, aligning with the nation’s ambitious clean energy goals. Elara Capital’s Revised Target Price for NTPC In light of NGEL’s successful market debut, Elara Capital has adjusted its target price for NTPC Limited’s shares. The brokerage firm now sets the target at ₹200, up from the previous ₹180, citing the enhanced valuation of ...