NTPC inches up on reports of inviting bids for Khargone Project in Madhya Pradesh

NTPC rose 0.76% to Rs 166.65 at 9:16 IST on BSE on reports the company has invited bids for construction of the 1,320 megawatts Khargone thermal project in Madhya Pradesh, estimated to cost Rs 7000 crore.

Meanwhile, the S&P BSE Sensex was up 121.58 points or 0.48% at 25,518.04.

On BSE, so far 24,000 shares were traded in the counter as against average daily volume of 15.67 lakh shares in the past two weeks.

The stock hit of Rs 167.40 and a low of Rs 166.50 so far during the day.

NTPC has reportedly invited bids for construction of the 1,320 megawatts (MW) Khargone thermal project, estimated to cost Rs 7000 crore. Bids have been sought for EPC (engineering, procurement and construction) package for the Khargone super thermal power plant coming up in Madhya Pradesh, according to reports. The state-run major plans to finance the EPC package for Khargone plant through external commercial borrowings (ECB) and own resources, according to the tender document issued on Saturday, reports suggest.

NTPC's net profit declined 29.4% to Rs 3093.54 crore on 27.2% growth in net sales to Rs 20938.08 crore in Q4 March 2014 over Q4 March 2013.

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 March 2014).

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