NTPC hits 52-wk high on disinvestment plans

The stock pared most of its gains and ended at Rs 236, up 1% from its previous close. The counter clocked volumes of 1.83 million shares as compared to the two-week daily average traded volumes of 1.20 million shares on the BSE.
____________________________________________

(Updated at 1041hrs)

NTPC has jumped on hopes of disinvestment by the government by next year.

The stock opened at Rs 235 and surged 4% to a new 52 week high at Rs 242. The stock is now up 3% at Rs 239. Around 618,857 shares have been traded on the BSE so far.

The next year would see a lot of stock market activity with public issues of government-owned companies coming out every two-three weeks. The government action plan for PSU disinvestment, which is expected to be in place by March, would aim for no more than a three-week gap between two PSU issues.

NTPC, along with NMDC and REC would go to the market before March 31, 2010.