NTPC gains after board OKs investment for Jharkhand project

NTPC rose 1.15% to Rs 118.35 at 10:19 IST on BSE after the company said its board approved Rs 14366.58 crore investment for North Karanpura Super Thermal Power Project in Jharkhand.

The company made the announcement after market hours on Friday, 14 March 2014.

Meanwhile, the BSE Sensex was up 173.15 points, or 0.79%, to 21,982.95.

On BSE, so far 80,000 shares were traded in the counter, compared with an average volume of 5.18 lakh shares in the past one quarter.

The stock hit a high of Rs 118.30 and a low of Rs 116.25 so far during the day. The stock hit a 52-week high of Rs 162.80 on 3 May 2013. The stock hit a 52-week low of Rs 110.90 on 4 March 2014.

The stock had underperformed the market over the past one month till 14 March 2014, sliding 11.50% compared with the Sensex's 7.08% rise. The scrip had also underperformed the market in past one quarter, sliding 15% as against Sensex's 5.28% rise.

The large-cap company has an equity capital of Rs 8245.46 crore. Face value per share is Rs 10.

The board of NTPC has accorded the investment approval for North Karanpura Super Thermal Power Project (3x660 megawatts) to be implemented in the State of Jharkhand at an appraised current estimated cost of Rs 14366.58 crore.

NTPC's net profit rose 10.2% to Rs 2861.28 crore on 19% growth in net sales to Rs 18779.39 crore in Q3 December 2013 over Q3 December 2012.

NTPC, India's largest power company, has presence in the entire value chain of power generation business. The Government of India (GoI) holds 75% stake in NTPC (as per the shareholding pattern as on 31 December 2013).

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