NTPC invited expressions of interest for 26% equity: what it means for NTPC stock

Published on 10/13/2026 at 10:18 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue rose 7.80 percent to INR 50.74 billion in fiscal 2027's first quarter. For NTPC stock this means 91.00 GW capacity in June 2026.

Key points in brief

NTPC invited expressions of interest for a 26.00 percent equity stake in co-generation projects on October 11, 2026.
NTPC maintained fiscal 2027 capacity-addition guidance of 9.50 GW, including 8.00 GW of renewable additions.
Revenue rose 7.80 percent year on year to INR 50.74 billion in the first quarter of fiscal 2027.
NTPC traded at INR 309.00 on the NSE on October 13, 2026, with a 52-week range of INR 305.70 to INR 414.40.

NTPC, INE733E01010, Illustration mit AI erstellt.

NTPC Limited (INE733E01010) invited expressions of interest for a 26.00 percent equity stake in co-generation projects, a move that connects its large thermal base with industrial power demand. ET Now reported the project invitation on October 12, 2026, citing the 26.00 percent stake opportunity.

Three dated capacity milestones

NTPC's renewable subsidiary commissioned 81.34 megawatts at the Kalasar Solar Project in Rajasthan on September 26, 2026, according to StockFin. On September 30, 2026, additional Kalasar units totaling 154.00 megawatts entered commercial operation, followed by another 50.00 megawatts on October 2, 2026.

The October 11, 2026 project invitation is the latest dated operating development in this sequence. Its commercial significance depends on whether NTPC converts industrial interest into projects that add generation and regulated equity rather than only expanding the development pipeline.

What does 26 percent mean for growth?

Motilal Oswal Financial Services maintained a Neutral rating and an INR 381.00 target in its July 28, 2026 Q1 fiscal 2027 update, while NTPC retained capacity-addition guidance of 9.50 GW for fiscal 2027, including 8.00 GW from renewables, according to DSIJ. The same report said only 595.00 megawatts of consolidated renewable capacity had been added in the first quarter, making execution the key counterweight to the expansion plan.

Group installed capacity stood at 91.00 gigawatts at the end of the first quarter of fiscal 2027, with 35.70 gigawatts under construction, per DSIJ. That scale gives the co-generation proposal a measurable base, but the renewable addition gap shows why delivery pace matters more than the headline stake percentage.

First-quarter earnings set the benchmark

In the first quarter of fiscal 2027, revenue from operations rose 7.80 percent year on year to INR 50.74 billion, while net income increased 12.90 percent to INR 6.72 billion, according to the standardized financial statement for NTPC. The figures provide a current operating comparison for the project strategy, with earnings growing faster than revenue in the reported quarter.

NSE price stays near yearly low

NTPC traded at INR 309.00 on the NSE at 12:43 p.m. IST on October 13, 2026. The share was within its 52-week range of INR 305.70 to INR 414.40, while market capitalization stood at INR 3.0 trillion on the same NSE page. The next valuation debate therefore centers on converting capacity additions and co-generation projects into earnings growth.

Market context: Market report BSE Sensex.