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NTPC spurts over 17% in four days

Business Finance

Capital Market 

NTPC surged 4.91% to Rs 93, extending gains for fourth straight session.

Shares of NTPC have added 17.05% in four sessions from its recent closing low of Rs 79.45 recorded on 3 April 2020.

On Monday (13 April 2020), NTPC informed about its plans to raise Rs 4,374.10 crore on 16 April 2020 through private placement of unsecured non-convertible bonds in the nature of debentures at a coupon of 6.55% p.a. with a door-to-door maturity after 3 years 1 day. The proceeds will be utilized for funding of capital expenditure, refinancing of existing loans and other general corporate purposes. The bonds are proposed to be listed on both NSE & BSE.

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

NTPC is a Maha-Ratna PSU 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.

As of 31 December 2019, the Government of India held 54.14% in the company.

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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: Wed, April 15 2020. 11:15 IST