NTPC rose 1.45% to Rs 157.20 at 9:55 IST on BSE after the company said it signed a pact to induct joint venture partners in Hindustan Urvarak & Rasayn.
The announcement was made after market hours yesterday, 1 November 2016.Meanwhile, the BSE Sensex was down 245.18 points, or 0.88%, to 27,631.43.
On BSE, so far 1.35 lakh shares were traded in the counter, compared with average daily volume of 4.39 lakh shares in the past one quarter. The stock hit a high of Rs 157.85 and a low of Rs 153.95 so far during the day. The stock hit a 52-week high of Rs 169.95 on 19 August 2016. The stock 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 1 November 2016, rising 2.96% compared with 1.30% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 1.40% as against Sensex's 0.65% rise.
The large-cap company has equity capital of Rs 8245.46 crore. Face value per share is Rs 10.
NTPC announced that a supplemental joint venture agreement (JVA) was signed on 31 October 2016 between NTPC, Coal India (CIL), Indian Oil Corporation (IOC), Fertilizer Corporation of India (FCIL) and Hindustan Fertilizer Corporation (HFCL) in order to induct IOC, FCIL and HFCL, as joint venture partners and shareholders in Hindustan Urvarak & Rasayn (HURL). HURL is a joint venture company formed between NTPC and CIL.
As per the latest JVA, CIL, NTPC and IOC each will hold 29.67% shares and FCIL & HFCL together will hold remaining 10.99% shares.
Now, HURL shall also take up revival of Barauni plant of HFCL in addition to revival of Gorakhpur and Sindri plants of FCIL by setting up ammonia urea plants at each locations, NTPC said in a statement.
NTPC's net profit declined 17.87% to Rs 2495.97 crore on 8.41% 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.
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