Indian Railway Finance Corporation (IRFC) advanced 2.55% to Rs 141 after the company signed a lease agreement with NTPC for the financing of 8 BOBR (Bogie Open Bottom Rapid) rakes worth approximately Rs 250 crore in the first phase.
The company's board has approved financing of 20 BOBR rakes procured under the General Purpose Wagon Investment Scheme (GPWIS) of Indian Railways to NTPC for up to Rs 700 crore on a finance lease basis on 8 October 2024.Indian Railway Finance Corp.'s principal business is to borrow funds from the financial markets to finance. The Government of India held an 86.36% stake in the company as of 30 September 2024.
NTPC is India's largest energy conglomerate. It has presence in the entire value chain of the power generation business. As of 30 September 2024, the Government of India holds 51.10% stakes in NTPC.
Shares of NTPC rose 0.48% to Rs 322.80 on the BSE.
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