NTPC Green Energy share price snapped a six-day losing streak on Monday as the company signed a memorandum of understanding with the Bihar State Power Generation Co. As part of this MoU, the company will develop battery energy storage projects and renewable energy projects for decarbonisation and energy transition in the state of Bihar.
The MoU was signed between Sarit Maheswari, CEO, NGEL & NREL, and Abdesh Kumar Singh, Director Technical, BSPGCL. Minister of Energy, Planning & Development Bijendra Prasad; Minister of Industries Nitish Mishra; ACS, Department of Industries; Secretary, Department of Energy; and other government officials were present during the MoU signing.
NTPC Green Energy share price rose 3.46% to Rs 109.44 apiece, the highest level since July 22. The share price was trading 3.03% higher at Rs 108.99 apiece as of 12:24 p.m., as compared to a 0.21% decline in the NSE Nifty 50 index.
The stock price declined 10.41% in 12 months and 14.36% on a year-to-date basis. Total traded volume so far in the day stood at 1.4 times its 30-day average. The relative strength index was at 51.58.
Out of four analysts tracking the company, three maintain a 'buy' rating, and one suggests to 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 7.4%.
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