NTPC shares in focus on announcing commercial operations of Nokh, Khavda solar projects

Shares of power major NTPC will be in focus on Thursday, December 18, after its stepdown subsidiary, NTPC Renewable Energy Ltd, declared the commercial operation of the fifth part of the 37.925 MW capacity of the 300 MW Khavda solar energy project located in Gujarat under the 450 MW Hybrid Tranche V Project.

In a regulatory filing dated Wednesday, it said that the commercial operation will begin on December 18.

In a separate regulatory filing earlier on December 17, the company also announced the commissioning of commercial operations of 243.66 MW capacity of the 1,255-MW solar project at Khavda in Gujarat.

"...capacity of 243.66 MW out of 1255 MW Khavda-I Solar PV Project under CPSU scheme Phase-II Tranche-III in Gujarat of NTPC Renewable Energy Limited, a step-down subsidiary of NTPC Limited, through its subsidiary NTPC Green Energy Limited, w.e.f. 00:00 hours of December 17, 2025," it stated.

On December 17, NTPC also received an order from the Assistant Commissioner, State Tax GST, Delhi, for the payment of tax, interest and penalty of ₹16.86 crore under the CGST Act/ Delhi GST Act.

NTPC stated that it will file an appeal before the Commissioner Appeal-1 Delhi GST against the said order within the prescribed timeline.

It added that there is no material impact on the financials, operations or other activities of the company.

NTPC share performance

Shares of NTPC closed 0.11% higher at ₹321.35 apiece on the National Stock Exchange (NSE) on Wednesday. However, all the developments, except for the beginning of the commercial operation of the solar project at Khavda one, were announced after the market closed.

The stock has declined nearly 1% in the past week and approximately 3% over the month. On a year-to-date basis, it has fallen by about 4%.

While the scrip touched a 52-week high of ₹371.45 on March 25, 2025, it reached a year’s low of ₹292.80 per equity share on February 17, 2025.

NTPC Ltd has a total market capitalisation of ₹3.12 lakh crore, as of December 17, 2025, according to data on the NSE.