NTPC gains on agreement with EDMC

NTPC was up by 1.01% to Rs 135.65 at 10:45 IST on the BSE after the company entered into a joint venture agreement with East Delhi Municipal Corporation to develop and operate waste management and energy generation facility.

The announcement was made after market hours yesterday, 12 June 2019.

Meanwhile, the S&P BSE Sensex was down by 183.63 points, or 0.46% to 39,573.18.

On the BSE, 29,000 shares were traded in the counter so far compared with average daily volumes of 13.39 lakh shares in the past two weeks. The stock had hit a high of Rs 135.70 and a low of Rs 133.40 so far during the day. It hit a 52-week high of Rs 146.19 on 14 September 2018 and a 52-week low of Rs 106.71 on 13 February 2019.

NTPC announced that the company had entered into a joint venture agreement with East Delhi Municipal Corporation (EDMC) to develop and operate integrated waste management and energy generation facility using municipal solid waste generated in EDMC and other areas. The equity participation between NTPC and EDMC would be 74:26 respectively.

NTPC had reported a 48.7% rise in the net profit to Rs 4350.32 crore on a reduction in the net sales of 8.1% to Rs 21222.39 crore in Q4 March 2019 over Q4 March 2018.

NTPC is primarily involved in the generation and sale of bulk power to State Power Utilities. Other businesses of the company include providing consultancy, project management & supervision, energy trading, oil & gas exploration and coal mining.

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