NTPC Green Energy shares jump 14% post listing. Should you buy, sell or hold?
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Shares of NTPC Green Energy, the renewable energy subsidiary of India's power producer NTPC, surged by as much as 14% on their trading debut Wednesday, driven by investor optimism about the country's increasing clean energy demand. At 12:27 p.m, the stock rose 12.4% to Rs 121.35, compared to the IPO price of Rs 108, giving the company a market value of Rs 1.02 trillion ($12.08 billion), exceeding its target valuation of $10.8 billion. "As expected NTPC Green Energy listing was in line with flat debut. Valuations and subdued market mood justify the listing. For long-term investors, we believe NTPC Green Energy Ltd is a great opportunity to invest in a leading player in India’s renewable energy sector, backed by the formidable resources and expertise of NTPC Ltd as a long-term strategy only," said Prashanth Tapse, Senior VP (Research), Mehta Equities. Tapse added, "With ambitious renewable energy targets, the company ...