NTPC LATEST NEWS: Hydrogen Economy! pilot on hydrogen blending with natural gas, commercialisation plans; EXPERT reveals short term, positional targets for this SHARE– Check DETAILS
Stock to Buy – NTPC - Nilesh Jain Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking find this stock with great potential. Though, he termed it as a slow mover, the stock carries great potential with long term and positional investors, Jain said
India’s largest integrated power generating company NTPC Limited has floated a global Expression of Interest (EoI) to set up a Pilot Project on Hydrogen Blending with Natural Gas in City Gas Distribution (CGD) Network in India. The state-run company, which works under the aegis of Ministry of Power, wants to play a key role in India’s transition to hydrogen economy, a government release said.
This pilot on hydrogen blending with natural gas will be the first of its kind in India and would explore the viability of decarbonizing India’s natural gas grid, the release said.
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Prime Minister Narendra Modi, during his Independence Day speech on Sunday has exhorted for transforming India into a hydrogen economy and also announced launch of National Hydrogen Mission.
The EoI follows the recent tenders floated by NTPC REL for green hydrogen fuelling station at Leh and NTPC Vidyut Vyapar Nigam Limited (NVVN) for procurement of Fuel Cell Buses. A dedicated 1.25 MW Solar plant is also being set up at Leh by NTPC REL to power the hydrogen fuelling station.
NTPC would later take this up at a commercial scale across India, this release said.
“The successful execution of the pilot will also demonstrate the decarbonization objective along with import substitution aim under the government’s Aatma Nirbhar Bharat Abhiyaan,” the release said.
Stock to Buy – NTPC - Nilesh Jain Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking find this stock with great potential. Though, he termed it as a slow mover, the stock carries great potential with long term and positional investors, Jain said.
He said most of the PSU stocks were doing well recently. He puts a short-term target price at RS 128. The positional target price is Rs 130 and RS 135, Jain said. The long-term investors can take a long position at current levels.
The stock has been moving sideways over the last two months, this technical analyst said. There will be a breakout at Rs 122, he further said. He puts the stop loss at Rs 113.
Today, the stocks were trading at Rs 118.70 on the NSE at 1:10 pm on Monday, up 0.4 per cent from the last closing price on Friday.
The above recommendations are on the basis of technical analysis, Jain said.
NTPC Limited is also keenly exploring production of green ammonia to decarbonize the fertilizer industry and possibly fulfil government’s upcoming mandate of using certain percentage of green hydrogen in fertilizer and refinery sector.
Also, detailed study on green methanol production at Ramagundam has been completed and the company is expected to take final investment decision in the near future, the release said.
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