NTPC s weight on the Nifty CPSE is expected to go up 20% versus the current weight of 17.9%. As for NHPC and NLC, the new weights post the readjustment will likely be 4.6% and 1.2%, respectively, versus 4.2% and 0.9%, now.
The NTPC stock, also a part of the S&P BSE Sensex index, rose from Rs 236 on October 27, 2023, to Rs 324 on January 29, 2024. This translates into an upside of 37% in just three months. The momentum pushed the stock to a fresh record high of Rs 325 on January 29, 2024. It rose over 4% in a week after remaining rangebound last month. The stock has been making higher-top and higher-bottom structures in the last 6 out of 7 months on the monthly charts. Dips, if any, were largely bought into, which indicates that it is in an uptrend.
On the daily chart, Adani Enterprises has tested the demand zone of Rs 2,875-2,855 and formed a high wave 'Doji' candle, which closed near the day's high.
NTPC Q3 Results: On a sequential basis, net profit increased 10% from Rs 4,726 crore posted in the preceding September quarter. Revenue from operations for the third quarter declined 4% year-on-year to Rs 42,820 crore, as against Rs 44,602 crore in the corresponding period of last year.