Do you want to report this message as spam?

NTPC rises 4 pc after govt's nod for stake sale

20 Oct 09 05:01 PM
MUMBAI: Shares of state-run power producer NTPC on Tuesday climbed over four per cent on the Bombay Stock Exchange in morning trade, a day after the government approved a 5 per cent stake sale in the company.

The stock surged by 4.25 per cent to touch a high of Rs 223 on BSE. On the National Stock Exchange the shares of the company rose by 3.79 per cent.

Over 10 lakh shares were traded on the bourses. Later, the scrip was quoted at Rs 219.70, up 2.71 per cent on BSE. The stock was trading at Rs 219.15, up 2.60 per cent, on NSE.

The government, yesterday, approved divestment in two state-run power utilities -- NTPC and Satluj Jal Vidyut Nigam -- as part of a conscious policy to unlock value and make the public part owners of the national assets.

The Cabinet Committee on Economic Affairs (CCEA) gave its approval to five per cent stake sale in NTPC, after which the government's holding in the power producer would come down to 84.5 per cent from the current 89.5 per cent.