You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

NTPC says Govt pares stake to 51.02%

Topics
Business Finance

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.

Powered by Capital Market - Live News

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

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

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