NTPC Share Price Sees Modest Increase Amid Market Volatility

As of 1:01 PM on September 23, 2024, shares of NTPC Limited are trading at a price of ₹426.3, marking an increase of 0.51% from the previous closing price. Concurrently, the Sensex index is experiencing a rise, trading at ₹84,697.09, a 0.18% increase.

Throughout the trading day, NTPC’s stock price has fluctuated, reaching a high of ₹430.4 and a low of ₹425.2. Analysts note that on the technical front, NTPC shares are trading above their short-term simple moving averages (SMA) of 5, 10, and 20 days, as well as longer-term SMAs of 50, 100, and 300 days. The SMA values for the stock range from ₹413.31 to ₹352.06, with the stock consistently staying above these averages.

The daily pivot level analysis identifies key resistance levels at ₹430.55, ₹436.85, and ₹443.85, while key support levels are noted at ₹417.25, ₹410.25, and ₹403.95. By 1 PM, the trading volume on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) surpassed previous sessions by 136.47%, which investors often interpret as an indicator of potential market movements.

Mint‘s technical analysis suggests that NTPC is currently in a strong bullish trend. From a fundamental standpoint, the company exhibits a return on equity (ROE) of 13.53%, with a current price-to-earnings (P/E) ratio of 19.19. Projections indicate a median 1-year forecasted upside of 0.33%, targeting a price point of ₹427.73.

Ownership stakes show a 51.10% holding by promoters, a 7.42% stake by mutual funds, and a 17.67% holding by foreign institutional investors as per the June quarter filings. Notably, mutual fund holdings have slightly decreased from 7.50% in March, and foreign institutional investors’ holdings have also diminished from 17.85%.

Within the power sector, NTPC’s performance contrasts with mixed results from peers, including a downward trend for Adani Power, while companies like Power Grid Corporation of India, Adani Green Energy, and Tata Power are witnessing stock price gains. Overall, both the benchmark indices, Nifty and Sensex, are reporting increases of 0.29% and 0.18%, respectively.