Strategy rejig and resilient Q1FY21 lights up NTPC stock performance
NTPC Ltd’s shares rose about 7.5% on Monday after the company reported a resilient performance for the June quarter, and said that electricity off-take from customers is increasing. Furthermore, it has set out a plan to change its energy mix by targeting aggressive renewable energy capacity additions.
NTPC said it will no longer proactively look to build greenfield thermal power plants. It, instead, plans to complete all under-construction coal-based power plants, besides focussing on renewable energy capacity additions. From less than 2% currently, NTPC aims to increase the share of renewable energy (excluding hydro power) to 24.6% of its total capacity by 2032.
The strategy shift is in tune with the changing times and keeps NTPC in the good books of environment-conscious investors.
