NTPC gains after signing loan accord with Japan Bank

NTPC rose 0.31% to Rs 129.85 at 10:30 IST on BSE after the company said it entered into two foreign currency loan agreements for financing its Kudgi and Auraiya thermal power projects.

The company made the announcement during trading hours today, 28 January 2014.

Meanwhile, the BSE Sensex was up 43.43 points, or 0.21%, to 20,750.88.

On BSE, so far 33,000 shares were traded in the counter, compared with an average volume of 4.42 lakh shares in the past one quarter.

The stock hit a high of Rs 131.55 and a low of Rs 129.50 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 122.65 on 28 August 2013.

The stock had underperformed the market over the past one month till 27 January 2014, sliding 5.75% compared with the Sensex's 2.29% fall. The scrip had also underperformed the market in past one quarter, falling 10.85% as against Sensex's 0.12% rise.

The large-cap state-owned power producer has an equity capital of Rs 8245.46 crore. Face value per share is Rs 10.

NTPC said it entered into a term loan facility with the Japan Bank for International Cooperation (JBIC) and Sumitomo Mitsui Banking Corporation (SMBC) for $350 million on 25 January 2014 to finance the supplies and services from Japan as well as India for the Kudgi Super Thermal Power Project Stage-I (3x800 megawatts). The facility has a door to door maturity of about 15 years.

The company also entered into a fixed interest rate facility with the JBIC and SMBC for 8021 million yen on 25 January 2014 to finance the renovation and modernization of gas turbines at its Auraiya Gas Power Station. The facility has a door to door maturity of over 12 years.

NTPC unveils Q3 results today, 28 January 2014. The company's net profit declined 20.7% to Rs 2492.90 crore on 0.9% growth in net sales to Rs 16272.27 crore in Q2 September 2013 over Q2 September 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).

Powered by Capital Market - Live News