After the recent correction in NTPC’s share price,we upgrade it to buy as valuation at 1SD below mean could rerate on the back of: a potential cut in interest rates; & initiation of two structural reforms –policy mandating shut down of inefficient and old power plants,and policy permitting optimisation of coal usage.

However, decline in interest rates could persuad the Central Electricity and Regulatory Commission to cut FY20- 24 regulated RoE, and thus, we build 100 bp cutin regulated RoE to 14.5%. Despite lowering our RoE estimates, we expect EPS growth of 20% in FY19E/20E, RoE of 12% by FY 20E led by 19 GW capacity addition in FY18-20.

The Supreme Court on Thursday restrained NTPC from proceeding with its tender process for operation and development of Dulanga coal mine in Odisha. A bench headed by Justice Dipak Misra reserved its judgment on Montecarlo’s appeal against the

NTPC’s decision to reject its techno-commercial bid for the project. However, it stayed till further orders the Delhi High Court’s September 30 ruling that upheld the PSU’s decision to reject the bid of the private firm on the ground that there would be loss of public revenue if a coal block is not operated properly.

New Delhi: India’s largest power generator, which is spearheading Prime Minister Narendra Modi’s ambitious clean-energy goals, is expanding its solar target and slowing down development of its coal-based plants on concerns that the cost of renewables will be cheaper than conventional energy.

NTPC Ltd. will expand its target of setting up 10-gigawatts of solar capacity, chairman Gurdeep Singh told Bloomberg in an interview. It will also support building of 15 gigawatts of solar capacity by buying power from producers and selling it to distribution companies.

State-owned NTPC today announced the listing of its Rs 2,000 crore Green Masala Bonds at Singapore Stock Exchange.

“NTPC has become the flag bearer for Rupee denominated Indian paper bringing in a new set of investors to meet the financing needs of the Indian Infrastructure sector on listing of INR 2000 Crore Green Masala Bonds at Singapore Stock Exchange,” the company said in a statement.

India's largest energy conglomerate NTPC will raise USD 500-USD 700 million in Masala bonds from the financial markets in London, Hong Kong and Singapore from November this year, a top company official said today.

"The funds raised through the bonds will be for several projects under construction," NTPC's director of finance and chief financial officer, Kulamani Biswal said after attending the launch of Singapore Exchange (SGX) Masala Bond Hub.

NEW DELHI: Amid global economic uncertainty, state-owned NTPC remains sanguine about domestic electricity demand and has planned a total capacity addition of 24 GW entailing an investment of Rs 1.6 lakh crore.

"Various projects of the company having an aggregate capacity of around 24 GW are under implementation at 23 locations across the country," NTPC CMD Gurdeep Singh said while addressing the company AGM today.

State-run NTPC has entered into a pact with Energy Efficiency Services Ltd (EESL) to implement energy efficient LED lighting solutions for all its projects, stations and offices across the country.

“NTPC and EESL have joined hands for implementation of energy efficient LED lighting solutions for all NTPC’s projects, stations and offices across the country with an MoU signed by S K Roy, ED (OS), NTPC and A K Gupta, Director (Finance), EESL,” the company said in a statement.

Ratnagiri Gas and Power Private Limited’s (RGPPL) efforts to build a breakwater facility and ramp up production at an LNG regasification unit have been stalled, with key promoter NTPC declining to pump in the required R600 crore. Bankers told FE the state-owned energy major is reluctant to put in its share of money unless a long-term power purchase agreement (PPA) is signed with Indian Railways.

Aravali Power Company Pvt Ltd (APCPL) located in the Jhajjar district of Haryana, owned and operated by NTPC, has issued a notice to Reliance Infrastructure's distribution companies (discoms) in New Delhi for non-payment of dues. It has threatened to cut off 445 mega watts (Mw) of power supply if the payment is not made before the coming Monday.

The notice said BSES Rajdhani Power Ltd (BRPL) and BSES Yamuna Power Ltd (BYPL) have been irregular in payment of their energy bills to NTPC. The total amount owed is Rs 961 crore — Rs 695 crore & Rs 266 crore by BRPL and BYPL, respectively.

NTPC shares gained nearly 3 per cent in the morning deals on Wednesday after the company decided to raise up to Rs 15,000 crore through issuance of debentures or bonds on private placement basis. The amount will be raised in one or more tranches not exceeding 30, through private placement, in domestic market for capex, working capital and general corporate purpose. At 11.44 am, shares of NTPC were trading 2.17 per cent up at Rs 162.25.

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