NTPC gains after raising funds

NTPC rose 0.43% to Rs 139.95 at 15:05 IST on BSE after the company announced that it has raised Rs 1000 crore through private placement of secured non-convertible debentures.

The announcement was made after trading hours yesterday, 5 May 2016.

Meanwhile, the S&P BSE Sensex was down 102.17 points or 0.4% at 25,127.53.

On BSE, so far 99,915 shares were traded in the counter as against average daily volume of 3.37 lakh shares in the past two weeks. The stock hit a high of Rs 140.90 and a low of Rs 137.90 so far during the day. The stock had hit a 52-week high of Rs 150.20 on 6 May 2015. The stock had hit a 52-week low of Rs 107.20 on 25 August 2015. The stock had outperformed the market over the past one month till 5 May 2016, gaining 9.72% compared with the Sensex's 1.52% gains. The scrip had also outperformed the market in past one quarter, rising 11.75% as against Sensex's 2.62% gains.

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

NTPC said that debentures carry a coupon of 8.05% per annum with a 10 year door-to-door maturity. The proceeds of the issue will be utilized to finance capital expenditure/refinancing the debt requirement in on-going projects including recoupment of expenditure already incurred.

NTPC, India's largest power company, has presence in the entire value chain of power generation business.

Government of India currently holds 69.96% stake in NTPC (as per shareholding pattern as on 31 March 2016).

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