Shares of NTPC Green Energy Ltd fell 1% after touching a day’s high of Rs 92.50 on 23rd January. This occurred despite the company announcing on Thursday (22nd January) that it had signed a memorandum of understanding (MoU) with Uttar Pradesh for the development of renewable energy and green hydrogen projects in the state.

The MoU was signed on 22nd January, 2026, on the sidelines of the World Economic Forum Annual Meeting in Davos. The agreement was executed between Vijay Kiran Anand, CEO of Invest UP and UPSIDA, and DMR Panda, Executive Director of NTPC Green Energy Ltd (NGEL). This took place in the presence of a state minister.

For the quarter ended 30th September, 2025, NTPC Green Energy reported a 131.6% year-over-year jump in net profit to Rs 88 crore, compared with Rs 38 crore in the same quarter last year. Revenue for the quarter rose 21.5% to Rs 612.3 crore from Rs 503.8 crore in Q2FY25. Additionally, EBITDA increased 26% to Rs 529.6 crore from Rs 420.2 crore a year earlier, while the EBITDA margin improved to 86.5% from 83.4%.

NTPC Green Energy (NGEL) is a subsidiary of state-owned power major NTPC. It serves as the umbrella entity for NTPC’s green business initiatives. The company executes projects through both organic and inorganic routes. Moreover, it aims to lead the group’s renewable push towards its 60 GW target by FY32.

At 12:51 PM, shares of NTPC Green Energy were trading 1.04% lower at Rs 90.22 on NSE.

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