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NTPC slumps after muted quarterly result

Capital Market 

Muted Q1 result and weak broad market is taking toll on the NTPC scrip as trading resumed after a long weekend.

The PSU firm engaged in generation and sale of electricity reported 5.63% rise in consolidated net profit to Rs 2840.28 crore on 6.9% rise in total income to Rs 26929.85 crore in Q1 June 2019 over Q1 June 2018. The result was announced on Saturday, 10 August 2019. Domestic stock markets were shut on Monday, 12 August 2019 on account of Bakri Id.

NTPC group's total installed capacity increased to 55,126 units in Q1 June 2019 as against 53,651 units in Q1 June 2018.

The NTPC stock was currently trading 4.66% lower at Rs 115.65. On BSE, 1.02 lakh shares were traded in NTPC counter, compared to a 2-week average of 3.58 lakh shares. It hit an intraday high of Rs 123 and an intraday low of Rs 116.75.

Meanwhile, S&P BSE Sensex was down 170.23 points or 0.45% at 37,411.68 on weak global cues. Overseas, Asian stocks were trading lower on Tuesday on fears about a drawn out Sino-US trade war, protests in Hong Kong and a crash in Argentina's peso currency. US stock benchmarks finished sharply lower Monday as simmering geopolitical tensions spooked equity investors.

NTPC's principal business activity is electric power generation by coal-based thermal power plant. The company's business segments include generation and others. The Government of India holds 56.41% stake in NTPC as of 30 June 2019.

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

First Published: Tue, August 13 2019. 09:34 IST
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