NTPC stock up nearly 5% at close; top gainer on Sensex, Nifty

NTPC's stock rose by nearly 5 per cent today following the government's decision to set up a 15,000 MW grid-connected solar power projects through the state-owned firm under the National Solar Mission.
The stock ended the day 4.90 per cent higher at Rs 153.15 on the BSE. During the day, it had jumped 5.78 per cent to Rs 154.45.
On the NSE, it rose by 4.18 per cent to settle at Rs 152.15.
The stock was the top gainer among the blue-chips on both the indices -- BSE's Sensex and NSE's Nifty.
Rally in the stock came despite weakness in the broader market. The Sensex ended at 28,746.65, down 261.34 points.

The Cabinet last evening approved the implementation of the scheme for setting up of 15,000 MW of grid-connected solar photo voltaic power projects under the National Solar Mission, an official statement had said.

They will be executed by NTPC Vidyut Vyapar Nigam (NVVN), an arm of NTPC, in three tranches.
That apart, NTPC yesterday said its board has approved an investment proposal for a 1,320 MW thermal power project in Madhya Pradesh.
"NTPC said that the Board of Directors of the company has accorded the investment approval for the Khargone power project in Madhya Pradesh at an appraised current estimated cost of Rs 9,870.51 crore," the company had said in a regulatory filing.

The approval is subject to Environment Clearance of Ministry of Environment and Forests.
The Board of Directors has also accorded approval to the company's proposal to set up 10,000 MW of renewable energy projects during the next five years.