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NTPC inks pact to take over Chhabra Thermal Power Plant

 PTI |  2017-01-13 23:22:52.0  |  New Delhi

NTPC inks pact to take over Chhabra Thermal Power Plant

State-run NTPC has signed a non-binding agreement with Rajasthan Rajya Vidyut Utpadan Nigam Ltd and Rajasthan Urja Vikas Nigam Ltd for takeover of Chhabra Thermal Power Plant.

“NTPC Ltd has signed a non-binding MoU with Rajasthan Rajya Vidyut Utpadan Nigam Ltd and Rajasthan Urja Vikas Nigam Ltd for takeover of Chhabra Thermal Power Plant Stage-I (4x 250 MW) and Stage-II (2x660 MW) of Rajasthan Urja Vikas Nigam by NTPC Ltd,” the company said in a BSE filing.

The Memorandum of Understanding (MoU) is to takeover four operational units of 250 MW capacity each and two other under-construction units of 660 MW capacity each at Chhabara Thermal Power Plant.In February last year, a proposal to divest equity of four units of thermal power plants in Rajasthan was cleared at a Cabinet meeting chaired by Rajasthan Chief Minister Vasundhara Raje.

Shares of NTPC were trading 2.89 per cent higher at Rs 169.15 apeice on BSE.

Meanwhile,shares of NTPC surged nearly 6 per cent today after the company signed a non-binding agreement with Rajasthan Rajya Vidyut Utpadan Nigam Ltd and Rajasthan Urja Vikas Nigam Ltd for takeover of Chhabra Thermal Power Plant. The stock gained 5.69 per cent to settle at Rs 173.75 on BSE. During the day, it jumped 6.23 per cent to Rs 174.65 -- its 52-week high.

At NSE, shares of the company soared 5.59 per cent to end at Rs 173.70.

Led by the rise in the stock price, the company’s market valuation went up by Rs 7,709.94 crore to Rs 1,43,264.94 crore.On the volume front, 11.15 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.

The stock was the top gainer on both the key indices Sensex and Nifty. “NTPC Ltd has signed a non-binding MoU with Rajasthan Rajya Vidyut Utpadan Nigam Ltd and Rajasthan Urja Vikas Nigam Ltd for takeover of Chhabra Thermal Power Plant Stage-I (4x 250 MW) and Stage-II (2x660 MW) of Rajasthan Urja Vikas Nigam by NTPC Ltd,” the company said in a BSE filing. The Memorandum of Understanding is to takeover four operational units of 250 MW capacity each and two other under-construction units of 660 MW capacity each at Chhabara Thermal Power Plant. 

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