NTPC shares rebound as power giant achieves milestones

01 Sep 2023

On September 13, NTPC shares exhibited a modest recovery, trading 1% higher at Rs 237 during early trading hours. This rebound followed a previous day's decline of over 3%, on September 12. The positive sentiment was driven by NTPC's announcement regarding the completion of Unit-1, an 800-megawatt (MW) segment, at the Telangana Super Thermal Power project.

In an exchange filing made on September 12, NTPC reported that the installed capacity of both NTPC and the NTPC group had now reached 57,838 MW and 73,824 MW, respectively.

Additionally, NTPC revealed that it had declared a final dividend of Rs 29.09 billion for the fiscal year 2022-23. This dividend payout represents 30% of the paid-up equity share capital of NTPC. Impressively, the total dividend distributed for FY 2022-23 amounted to Rs 70.3 billion, equivalent to 41% of the profit after tax (PAT). This accomplishment marked the 30th consecutive year in which the company had rewarded its investors with dividends, showcasing its commitment to delivering consistent returns.

In a pioneering move for India, NTPC, a significant coal consumer in the power sector, successfully produced 'green coal' (torrefied charcoal) through a trial process utilising municipal solid waste (MSW) or garbage. Following a successful trial in Varanasi, the central public sector undertaking announced plans to establish more waste-to-coal plants across the nation. The largest of these proposed plants, with a capacity of 900 tonnes per day (TPD), is set to be located in Greater Noida.

Related Stories