NTPC Green Energy shares rebound 24% from 1-year low; is a trend reversal underway?

Shares of NTPC Green Energy Ltd continued their upward momentum on Wednesday, rising 3.45 per cent to close at Rs 105.03 on BSE. With this, the stock has rebounded 24.15 per cent from its 52-week low of Rs 84.60, touched on March 3 this year. The renewable energy arm is a wholly owned subsidiary of state-run NTPC Ltd.

The recent upmove follows a series of positive developments, including the company’s reclassification as a Schedule A Central Public Sector Undertaking (CPSE) by the government.

Prior to this, the company also signed a Memorandum of Understanding (MoU) with Paradip Port Authority to explore collaboration in green hydrogen projects, aligning with India’s broader clean energy transition plans.

With that being said, market experts largely remain divided on whether the current rebound marks the beginning of a sustained uptrend.

Dharmesh Kant, Head of Equity Research at Cholamandalam Securities, maintained a positive outlook, noting that several solar power projects are scheduled to be commissioned this year. “This will likely lead to a re-rating of the stock as its green portfolio expands,” Kant said.

On the technical front, analysts suggest that the stock has shown notable strength after emerging from an oversold phase.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said the counter has moved above all major exponential moving averages (EMAs) on the daily chart, indicating a potential trend reversal. He pegged support around Rs 100 and resistance between Rs 110 and Rs 112 in the near term.

Meanwhile, AR Ramachandran, a Sebi-registered analyst, noted that while the stock remains bullish, it appears slightly overbought on daily charts. “Investors should consider booking profits as a daily close below Rs 101.5 could trigger a decline towards Rs 96,” he cautioned.

NTPC Green Energy focuses on expanding its renewable energy footprint through both organic and inorganic routes, with projects in solar, wind and green hydrogen. As of September 2025, the Centre held an 89.01 per cent stake in the company.