Power demand picks up as the consumption of energy in the country increases

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NTPC Ltd is India’s largest energy conglomerate which has been in the business from 1975 with widespread business relations across the world. It is a Public sector undertaking which is engaged in the generation of electricity and allied activities. The government holds 51.02% in the company as it sold 3.12% stake in the company on February 3,2020. The generation of Electricity is contributing 98% to the NTPC Ltd’s sales value which consists around Rs.89315.64 crore. The Company is the major contributor for generation of power across the country as the plants are situated in vital locations. The conglomerate completed the trail of 660 mw in its Khargone Super Thermal power project in Madhya Pradesh which would increase its capacity.

The following chart of Ichimoku cloud indicator shows an upward trend for the stock as the Chikou span line moves in an upward direction and also the base line is above the conversion line signifying a buy signal for the stock. Also, the reversal trend in the stock can be seen as the formation of bullish and bearish candlesticks have been consistent. 



The state owned power giant also has invited bids for 50 MW of grid- connected solar projects in Jharkhand. Also the Ministry of New and Renewable Energy (MNRE) designated NTPC as the renewable energy executing agency to enable the application of connectivity and long-term access in the inter-state transmission system network. The agency can act as a facilitator for the projects which has an installed capacity of 50 MW. The following chart of Bollinger bands and supertrend shows a downward trend for the stock as the spread of COVID-19 would have an impact on the industry as the lockdown of plants and projects. The widened width of Bollinger bands signifies the scope of change in the trend for the stock. 


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