NTPC nudges higher after announcing fund raising plans

NTPC rose 0.49% to Rs 165.70 at 10:00 IST on BSE after the company announced that it has decided to raise Rs 3925 crore through private placement of secured non-convertible debentures.

The announcement was made after market hours yesterday, 13 December 2016.

Meanwhile, the BSE Sensex was down 63.99 points, or 0.24%, to 26,633.83.

On the BSE, 15,308 shares were traded in the counter so far, compared with average daily volume of 3.02 lakh shares in the past one quarter. The stock had hit a high of Rs 166.40 and a low of Rs 164.45 so far during the day. The stock had hit a 52-week high of Rs 169.95 on 19 August 2016. The stock had hit a 52-week low of Rs 116.80 on 25 February 2016.

The stock had outperformed the market over the past 30 days till 13 December 2016, rising 8.45% compared with 0.45% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 7.71% as against Sensex's 5.84% decline.

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

NTPC announced that it has decided to raise Rs 3925 crore through private placement of secured non-convertible debentures at a coupon of 7.37% per annum with a door to door maturity of 15 years today, 14 December 2016.

The proceeds will be utilized to finance capital expenditure/refinancing the debt requirement in on-going projects and other general corporate requirements.

NTPC's net profit declined 17.9% to Rs 2495.97 crore on 8.4% rise in net sales to Rs 19241.47 crore in Q2 September 2016 over Q2 September 2015.

NTPC, India's largest power company, has presence in the entire value chain of power generation business. The government of India holds 69.75% stake in the company as per the shareholding pattern as at 30 September 2016.

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