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NTPC says Govt pares stake to 51.02%

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Capital Market 

NTPC informed on Thursday (5 March) that the Government of India (GOI) sold 3.12% stake of the company via CPSE ETF.

The Government of India divested 30.87 crore equity shares, or 3.12% stake held in NTPC on 3 February 2020. It was an off market sale by the Government of India to Nippon Life India Asset Management India, the asset management company of the CPSE ETF mutual fund scheme.

Post disinvestment, the Government of India holds 51.02% stake in NTPC from 54.14% held earlier. The disclosure was made during trading hours today, 5 March 2020.

NTPC's consolidated net profit rose 22.4% to Rs 3,179.06 crore on a 0.3% fall in net sales to Rs 25,412.39 crore in Q3 December 2019 over Q3 December 2018.

NTPC is a maharatna company operating in the power generation business. The principal business activity of the firm is electric power generation through coal based thermal power plants. It also engages in the business of generation of electricity from hydro and renewable energy sources.

Shares of NTPC were down 0.05% at Rs 107.95.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, March 05 2020. 13:51 IST