NTPC shares jump nearly 6%; mcap rises by Rs 7,709 cr

Stock gained 5.69% to settle at Rs 173.75 on BSE

Shares of NTPC surged nearly 6 per cent on Thursday after the company signed a non-binding agreement with Rajasthan Rajya Vidyut Utpadan Nigam Ltd and Rajasthan Urja Vikas Nigam Ltd for takeover of Chhabra Thermal Power Plant.

The stock gained 5.69 per cent to settle at Rs 173.75 on BSE. During the day, it jumped 6.23 per cent to Rs 174.65 —  its 52-week high.

At NSE, shares of the company soared 5.59 per cent to end at Rs 173.70.

Led by the rise in the stock price, the company's market valuation went up by Rs 7,709.94 crore to Rs 1,43,264.94 crore.

On the volume front, 11.15 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.

The stock was the top gainer on both the key indices Sensex and Nifty.

"NTPC Ltd has signed a non-binding MoU with Rajasthan Rajya Vidyut Utpadan Nigam Ltd and Rajasthan Urja Vikas Nigam Ltd for takeover of Chhabra Thermal Power Plant Stage-I (4x 250 MW) and Stage-II (2x660 MW) of Rajasthan Urja Vikas Nigam by NTPC Ltd," the company said in a BSE filing.

The Memorandum of Understanding (MoU) is to takeover four operational units of 250 MW capacity each and two other under-construction units of 660 MW capacity each at Chhabara Thermal Power Plant.