NTPC shares gain on plan to raise Rs 15,000 crore

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. The scrip opened the day at Rs 159 and has touched a high and low of Rs 163.40 and Rs 159, respectively, in trade so far. The power general company will seek shareholders’ nod for the same in its AGM on September 20, 2016.

For the quarter ended June 30, 2016, NTPC reported a net profit of Rs 2369.53 crore, up 4.09 per cent, against Rs 2276.50 crore in the corresponding quarter a year ago. Gross sales of the company jumped by 11.34 per cent year-on-year to Rs 18939.81 crore for the quarter under review against Rs 17010.35 crore in the same quarter last year. Operating profit of NTPC jumped by 41.64 per cent yoy to Rs 5371.74 crore in April-June period.

In the past one year, shares of NTPC jumped by 38.21 per cent to Rs 158.80 till August 23, whereas BSE Sensex gained 8.74 per cent during the same period. Shares of the comany hit 52-week high of Rs 169.95 on August 19, 2016 and 52-week low of Rs 107.20 on August 25, 2015.

Promoters hold 69.96 per cent stake in the company, while institutions and non-institutions held around 30.04 per cent stake in NTPC.

Later, the scrip closed 1.54 per cent up at Rs 161.25. Sensex ended 69.73 points higher at 28,059.

NTPC Limited