NTPC gains after board's nod for two investment proposals

NTPC rose 1.11% to Rs 141 at 9:18 IST on BSE after the company said its board has accorded two investment proposals aggregating about Rs 10571 crore.

The announcement was made after market hours on Wednesday, 10 September 2014.

Meanwhile, the S&P BSE Sensex was up 81.76 points or 0.3% at 27,139.17.

On BSE, so far 26,000 shares were traded in the counter as against average daily volume of 4.35 lakh shares in the past two weeks.

The stock hit a high of Rs 141.60 and a low of Rs 140.60 so far during the day.

NTPC said that its board of directors at a meeting held on Wednesday, 10 September 2014, has accorded the investment approval to Tanda Super Thermal Power Project in the state of Uttar Pradesh at an appraised current estimated cost of Rs 9188.98 crore and Rammam Hydro Electric Project in the state of West Bengal at an appraised current estimated cost of Rs 1381.84 crore.

NTPC's net profit fell 12.89% to Rs 2201.20 crore on 15.22% growth in total income to Rs 18885.14 crore in Q1 June 2014 over Q1 June 2013.

NTPC, India's largest power company, has presence in the entire value chain of power generation business. The Government of India (GoI) holds 74.96% stake in NTPC (as per the shareholding pattern as on 30 June 2014).

Powered by Capital Market - Live News