NTPC drops on heavy volumes

Stock down nearly 1%

NTPC dipped nearly 1% to Rs 141 on high volumes in the noon deals after the the company announced that power projects in Sri Lanka, Bangladesh are on track, remaining undeterred by current political developments in these places.

NTPC and Sri Lankan team held talks in New Delhi to discuss changes to the power purchase agreement (PPA) and the implementation agreement for the 2x250 MW imported coal-based power project at Sampur in Trincomalee district, Sri Lanka.

Similarly, NTPC is also not perturbed over the present situation due to the faceoff between the ruling and opposition parties in Bangladesh. The company is going ahead with the development of 2x660 MW imported coal based project at Khulna division of Bangladesh.

The company has also rubbished reports appearing in a section of press relating to losing the projects to China.

So far, the stock has touched a high of Rs 142.50 and a low of Rs 140.55.

On the volume front, the stock has seen over 8.4 million shares changing hands on both the exchanges as against the two week average of 1.3 million shares.