MTNL, GAIL, NTPC, Dredging Corporation and NTPC Green Energy Shares Gain Among PSU Segment
MTNL, GAIL, NTPC, Dredging Corporation and NTPC Green Energy Shares were trading positive among public sector companies during early trades on Friday. Indian markets opened flat on Friday after facing correction during the week. US markets led to a bearish sentiment across world markets as US Federal Reserve Chairman indicated that there could be less rate cuts during 2025. Markets are trying to re-adjust to new expectations in terms of interest rates. Indian markets are currently looking for global cues for the next major move. The sentiment is cautious but many stocks are currently at attractive valuations in Indian markets.
PSU stocks have witnessed strong activity during the last two weeks. Many companies have seen buying from lower levels. TopNews has reviewed the price performance of some of the public sector stocks below.
| Stock | Open (Rs) | High (Rs) | Low (Rs) | Market Cap | P/E Ratio | Div Yield (%) | 52-wk High (Rs) | 52-wk Low (Rs) |
|---|---|---|---|---|---|---|---|---|
| MTNL | 54.70 | 56.49 | 54.63 | 35.17B | - | - | 101.93 | 29.55 |
| GAIL | 194.01 | 196.69 | 194.01 | 1.29T | 11.14 | 2.81% | 246.30 | 134.85 |
| NTPC | 336.00 | 343.15 | 335.80 | 3.32T | 15.05 | - | 448.45 | 293.20 |
| Dredging Corporation | 900.00 | 900.05 | 891.10 | 25.20B | - | - | 1457.95 | 545.15 |
| NTPC Green Energy | 135.50 | 138.10 | 134.30 | 1.16T | 370.21 | - | 155.35 | 111.50 |
MTNL
MTNL, the state-owned telecommunications company, has been trading within a narrow range, opening at Rs 54.70 and hitting a high of Rs 56.49. The stock is nearing a resistance level of Rs 56.49, and a breakout could trigger further upside momentum. With its 52-week high at Rs 101.93 and a low at Rs 29.55, the current trading zone suggests a consolidation phase. Investors may find opportunities if MTNL crosses its Fibonacci levels, particularly the Rs 55.93 mark, indicating a short-term bullish trend. Watch for volume confirmation as the stock approaches key resistance.
GAIL
GAIL India, a leader in the natural gas and petrochemical sectors, opened at Rs 194.01 and moved up to a high of Rs 196.69. The company’s steady growth is supported by a strong P/E ratio of 11.14 and a dividend yield of 2.81%. Trading just below its 52-week high of Rs 246.30, GAIL has seen strong support at Rs 194.01. The Fibonacci level at Rs 195.12 marks a crucial resistance point. A breakout above this could see the stock retest its yearly highs. Investors can consider this stock for both growth and dividends, given its robust fundamentals.
NTPC
NTPC, India’s largest energy conglomerate, has displayed a resilient performance, opening at Rs 336.00 and climbing to Rs 343.15. Currently trading well within its 52-week range of Rs 293.20 to Rs 448.45, NTPC offers long-term growth potential driven by its sustainable energy initiatives. The Fibonacci level of Rs 341.42 is pivotal for traders watching short-term movements. A bullish recovery is likely if the stock breaks above Rs 343.15, with the next target set near its yearly highs. Long-term investors might find value in NTPC for its consistent dividend payouts and leadership in the energy sector.
Fibonacci Levels
| Stock | Level 1 (23.6%) | Level 2 (38.2%) | Level 3 (61.8%) |
|---|---|---|---|
| MTNL | 55.93 | 55.39 | 54.74 |
| GAIL | 195.12 | 194.80 | 194.31 |
| NTPC | 341.42 | 339.26 | 336.96 |
| Dredging Corporation | 897.62 | 894.44 | 890.13 |
| NTPC Green Energy | 137.37 | 136.66 | 135.64 |
Dredging Corporation
Dredging Corporation, a niche player in maritime infrastructure, saw modest movements, opening at Rs 900.00 and hitting Rs 900.05. Despite being far below its 52-week high of Rs 1457.95, the stock maintains strong support near its Fibonacci level at Rs 897.62. The company’s role in key infrastructure projects positions it as a strategic investment. A decisive move above Rs 900.05 could unlock further gains. Investors should monitor the company’s upcoming projects and operational performance to assess mid- to long-term growth prospects.
NTPC Green Energy
NTPC Green Energy, a subsidiary focused on renewable energy, opened at Rs 135.50 and climbed to Rs 138.10. The company is trading closer to its 52-week high of Rs 155.35, reflecting investor optimism in the renewable sector. The high P/E ratio of 370.21 indicates significant growth expectations. Key Fibonacci levels, such as Rs 137.37, suggest short-term resistance. A breakout above Rs 138.10 could set the stage for a rally toward its yearly high. With India’s push for green energy, NTPC Green Energy remains a strong candidate for investors seeking exposure to the renewable energy space.
