NTPC Green Energy to Launch Rs 10,000-Crore IPO in Early November, Plans Global Roadshows

NTPC Green Energy, a wholly-owned subsidiary of NTPC Ltd., is set to launch its much-anticipated Rs 10,000-crore initial public offering (IPO) in early November 2024. This IPO is poised to be one of the largest public issues of the year, attracting substantial attention from investors. As a part of the pre-IPO process, the company has planned roadshows in various major financial hubs, both domestically and internationally, to generate interest and secure investments. These roadshows are expected to take place in Mumbai, London, the United States, Singapore, and other prominent financial centers.

IPO Structure
The NTPC Green Energy IPO will consist entirely of a fresh equity issue. This means that there will be no offer-for-sale component from existing shareholders or promoters, ensuring that all proceeds from the IPO will go directly to the company. The raised funds will be utilized to finance NTPC Green Energy's ongoing and upcoming projects, including investments in solar energy, green hydrogen, and green ammonia.

Shareholder Quotas
Investors who are already shareholders of NTPC Ltd. at the time of the red herring prospectus (RHP) will be eligible for a reserved quota in the upcoming IPO. This quota is capped at 10 percent of the total issue size, offering an opportunity for existing investors to further benefit from NTPC's expanding renewable energy portfolio.

Renewable Energy Ambitions
NTPC Green Energy's IPO is an integral part of NTPC Ltd.'s broader strategy to significantly ramp up its renewable energy capacity. The company aims to achieve 60 gigawatts (GW) of renewable energy capacity by FY32. Currently, NTPC Green Energy has 24 GW of renewable energy projects in its pipeline, with a focus on solar energy and emerging green technologies such as green hydrogen and green ammonia. These projects are expected to play a crucial role in India's transition toward cleaner energy sources, in line with global sustainability goals.

Impact on NTPC Ltd.
The launch of NTPC Green Energy's IPO has already generated optimism in the stock market, with many analysts predicting a positive impact on the stock of its parent company, NTPC Ltd. The renewable energy business, which is growing at a rapid pace, is seen as a key driver of NTPC's future growth. Brokerage firms like Jefferies have maintained a 'buy' rating on NTPC Ltd., setting a target price of Rs 485 per share. Jefferies has cited NTPC's aggressive participation in renewable energy bids, which reached 37-39 GW in FY24, as a significant growth catalyst.

Investor Sentiment and Global Interest
The strong focus on renewable energy, combined with the scale of NTPC Green Energy's planned projects, has piqued investor interest both in India and internationally. Analysts believe that the listing of NTPC Green Energy could unlock substantial value for NTPC Ltd., potentially leading to a re-rating of NTPC's stock. The company's presence in the renewable energy sector aligns with the increasing global focus on sustainability and clean energy investments, making it a highly attractive proposition for investors.

Roadshows to Build Momentum
In the lead-up to the IPO, NTPC Green Energy will conduct roadshows to attract potential investors. These roadshows, scheduled in cities like Mumbai, London, and New York, will provide insights into the company's future projects and financials, aiming to secure interest from both domestic and international institutional investors. Given the company's strategic importance in India's renewable energy landscape, the IPO is expected to draw significant attention from global funds focused on environmental, social, and governance (ESG) investing.

Conclusion
NTPC Green Energy's Rs 10,000-crore IPO represents a major milestone in India's renewable energy journey. With ambitious expansion plans and strong backing from its parent company NTPC Ltd., the IPO is expected to be a key event for both retail and institutional investors. As the company continues to invest in cutting-edge green technologies, the success of this public issue could set the stage for further growth in India's renewable energy sector.

Key Takeaways

• NTPC Green Energy's Rs 10,000-crore IPO is scheduled for early November 2024.
• The IPO consists entirely of a fresh equity issue, with no offer for sale by existing shareholders.
• Proceeds will fund solar, green hydrogen, and green ammonia projects.
• NTPC Ltd. aims to achieve 60 GW of renewable energy capacity by FY32, with 24 GW currently in the pipeline.
• Roadshows are planned in key cities such as Mumbai, London, and New York to attract investors.
• Analysts expect the IPO to unlock value for NTPC Ltd., with a potential re-rating of its stock.

This IPO is poised to be a landmark event in India's renewable energy landscape, drawing significant interest from both domestic and international markets.

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Broader Indices Surge to New Highs: 30 Smallcap Stocks Gain Between 10-50%

The stock market experienced a robust rally last week, with the broader indices reaching fresh all-time highs. In a volatile week ending on September 20, 2024, the BSE Sensex surged by 1,653.37 points, a 1.99% gain, closing at 84,544.31. Similarly, the Nifty50 index added 434.5 points or 1.71%, ending at 25,791. On September 20, both indices reached new highs with the Sensex peaking at 84,694.46 and Nifty at 25,849.25.

Performance of Broader Indices

While the broader indices reached new heights, they slightly underperformed compared to the main indices. The BSE Mid and Smallcap indices ended the week relatively flat, while the Largecap index rose by 1.5%. Nevertheless, several smallcap stocks performed impressively, with 30 stocks gaining between 10-50%. Notable performers included Neogen Chemicals, Reliance Infrastructure, and Waaree Renewable Technologies.

Sectoral Movement: Realty and Bank Sectors Shine

Among sectors, the Nifty Realty index surged by 4.5%, leading the pack. The Nifty Bank index also showed significant strength, rising 3.5%, followed by the Nifty Auto index, which climbed 2%. On the other hand, the Nifty Information Technology index faced a decline of nearly 3%, weighed down by layoffs and a weaker US dollar. Similarly, the Nifty Media and Nifty Pharma indices fell by 2.6% and 2%, respectively.

Foreign Investments Fuel Rally

Foreign institutional investors (FIIs) were net buyers, infusing Rs 11,517.92 crore into the market. In contrast, domestic institutional investors (DIIs) sold equities worth Rs 633.67 crore, slightly balancing the foreign inflow. Analysts credit the market's positive momentum to the US Federal Reserve's unexpected 50 basis points rate cut, which eased fears of an economic slowdown. The lower-than-expected jobless claims from the US added to the optimism, suggesting a potential soft landing for the US economy as the rate-cut cycle begins.

Future Outlook: Nifty Targets 26,000

According to Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Intermediaries Ltd., the bullish momentum is expected to continue, with the Nifty likely to test the 25,900-26,000 range. Tejas Shah from JM Financial & BlinkX shares a similar outlook, indicating that Nifty's closing above the 25,500-550 resistance zone sets the stage for an upward move towards the psychological barrier of 26,000.

Amol Athawale, VP-Technical Research at Kotak Securities, adds that as long as the market trades above 25,500, the upward breakout trend will continue. He notes that if Nifty dips below this level, traders may opt to exit their long positions.

In conclusion, the Indian stock market remains in bullish territory, with several smallcap stocks delivering outstanding returns. The upcoming week will test whether Nifty can break through the 26,000 mark or face resistance.

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Nifty 50 Eyes Further Gains: 15 Key Points to Know Before Market Opening

On September 17, 2024, the Nifty 50 achieved a new closing high of 25,419 with a moderate gain of 35 points. Positive signals from momentum indicators like RSI and MACD supported the bullish trend. Experts suggest that if the index decisively closes above 25,500 or breaks through its upward-sloping resistance trendline, the market could rally towards 25,800. The immediate support level is pegged at 25,200.

Here are 15 crucial data points to guide your trading decisions for the next session:

1) Key Nifty 50 Levels

• Resistance: 25,438, 25,460, and 25,494 (based on pivot points).
• Support: 25,370, 25,349, and 25,315.

2) Key Bank Nifty Levels

• Resistance: 52,262, 52,309, and 52,385 (based on pivot points).
• Support: 52,110, 52,063, and 51,987.

3) Nifty Call Options Data

• 26,000 strike has the maximum open interest, with 1.07 crore contracts, indicating strong resistance.
• 25,500 strike saw 47.47 lakh contracts of open interest, offering short-term insights into resistance levels.

4) Nifty Put Options Data

• 25,000 strike holds the highest open interest of 60.69 lakh contracts, acting as key support.
• Significant Put writing was observed at 25,400 strike, with an addition of 10.32 lakh contracts.

5) Bank Nifty Call Options Data

• 53,000 strike has the highest open interest at 34.85 lakh contracts, marking resistance.
• Heavy Call writing was noted at 52,500 strike, with 13.87 lakh contracts added.

6) Bank Nifty Put Options Data

• 52,000 strike saw the highest open interest with 36.11 lakh contracts, serving as critical support.

7) Funds Flow (Rs crore)

• DIIs bought shares worth Rs 874 crore, while FIIs net bought Rs 483 crore, signaling positive institutional interest.

8) Put-Call Ratio (PCR)

• The Nifty PCR increased to 1.3, indicating bullish sentiment, as traders are more inclined towards Put selling.

9) India VIX

• India VIX, an indicator of market volatility, rose by 1.04% to 12.59, still favoring bulls despite a slight uptick.

10) Long Build-up

• 30 stocks showed a long build-up, with rising open interest and price, suggesting continued bullish positions.

11) Long Unwinding

• 47 stocks saw long unwinding, marked by declining open interest and prices, indicating profit booking.

12) Short Build-up

• A total of 66 stocks experienced a short build-up, with increasing open interest and falling prices, indicating bearish sentiment.

13) Short-Covering

• 41 stocks witnessed short-covering, signaling traders closing their short positions due to rising prices.

14) High Delivery Trades

• Delivery trades showed strong investor interest in select stocks, indicating a preference for long-term holdings.

15) Stocks Under F&O Ban

• New Entries: Biocon, Punjab National Bank.
• Existing: Aarti Industries, Balrampur Chini Mills, Bandhan Bank, and others.

These insights provide a solid foundation for navigating the market's opening on Wednesday. Ensure you adjust your strategies based on key support and resistance levels to spot potential opportunities.

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