NTPC gains after declaring commercial operation of 1st unit of BRBCL power project

NTPC rose 0.56% to Rs 172 at 11:14 IST on BSE after the company declared commercial operation of 1st unit of 250 megawatts of Nabinagar Thermal Power Project of Bhartiya Rail Bijlee Company.

The announcement was made during trading hours today, 16 January 2017.

Meanwhile, the BSE Sensex was up 52.90 points, or 0.19%, to 27,290.96.

On the BSE, so far 3.02 lakh shares were traded in the counter, compared with average daily volumes of 2.58 lakh shares in the past one quarter. The stock had hit a high of Rs 172.30 and a low of Rs 169.10 so far during the day.

The stock hit a 52-week high of Rs 175 on 13 January 2017. The stock hit a 52-week low of Rs 116.80 on 25 February 2016. The stock had outperformed the market over the past 30 days till 13 January 2017, rising 6.71% compared with the 2.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 18.05% as against Sensex's 1.57% decline.

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

NTPC said that 1st Unit of 250 megawatts (MW) of Nabinagar Thermal Power Project of Bhartiya Rail Bijlee Company (BRBCL-a subsidiary of NTPC) (4x250 MW) is declared on commercial operation from 15 January 2017. With this, the commercial capacity of Nabinagar Thermal Power Project of BRBCL and NTPC group has become 250 MW and 46,178 MW respectively.

NTPC's net profit declined 17.9% to Rs 2495.97 crore on 8.4% rise in net sales to Rs 19241.47 crore in Q2 September 2016 over Q2 September 2015.

NTPC, India's largest power company, has presence in the entire value chain of power generation business. The government of India holds 69.75% stake in the company as per the shareholding pattern as at 31 December 2016.

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