PTC India shares jumped 4.04% to ₹156 on the NSE after the company announced a joint venture with NLC India Renewables. NLC India shares closed at ₹262.40, up 2.76%, reflecting the market’s optimism for the green energy tie‑up.
The new entity, NIRL PTC Renewables Ltd, was incorporated on September 16, with NLC India holding a 74% stake and PTC India 26%. PTC India has subscribed 26,000 equity shares at ₹10 each, injecting ₹260,000 in cash into the venture.
The partnership follows NLC India’s recent 200‑MW wind project award from SJVN, underscoring the state‑run firm’s expanding renewable footprint. Regulatory approval from the Department of Investment and Public Asset Management was secured prior to the JV’s formation.
Analysts expect the JV to lift PTC India’s renewable revenue by roughly 10% in FY27, although they note that acquiring site clearances and grid connections could delay early returns.
PTC India’s stock has traded between ₹120 and ₹160 over the past year, and the latest rally brings it near the upper band, prompting some investors to buy on the dip.