NTPC gains after synchronizing 200 MW of solar power project

NTPC rose 1.1% to Rs 138.15 at 10:15 IST on BSE after the company announced that the 200 megawatts out of 250 megawatts of stage-I Ananthapuramu Ultra Mega Solar Power Project has been synchronized on 30 April 2016.

The announcement was made after market hours yesterday, 3 May 2016.

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

On BSE, so far 23,187 shares were traded in the counter as against average daily volume of 3.43 lakh shares in the past two weeks. The stock hit a high of Rs 138.35 and a low of Rs 136.50 so far during the day. The stock had hit a 52-week high of Rs 153 on 4 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 3 May 2016, gaining 5.16% compared with the Sensex's 0.16% fall. The scrip had also outperformed the market in past one quarter, rising 6.14% as against Sensex's 4.15% gains.

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

NTPC said that with the synchronization of 200 megawatts (MW) out of 250 MW of stage-I Ananthapuramu Ultra Mega Solar Power Project in Andhra Pradesh, the total capacity of non-conventional energy projects of NTPC has become 310 MW. Further, in continuation to the company's disclosure dated 16 October 2015, Government of Jharkhand has notified 'PTPS Transfer Scheme, 2015' on 1 April 2016 transferring specified assets of Patratu Thermal Power Station to PUVNL, a subsidiary company of NTPC, resulting in addition of 325 MW to NTPC's Group capacity. Consequently, the total commissioned capacity of NTPC and NTPC group has become 40,212 MW and 47,178 MW respectively, NTPC said.

NTPC's net profit fell 18.9% to Rs 2492.87 crore on 7.6% decline in net sales to Rs 17317.50 crore in Q3 December 2015 over Q3 December 2014.

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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