NTPC gains after forming JV with Coal India for revival of fertilizer plants

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rose 0.75% to Rs 141.15 at 9:20 on after the company said it collaborated with Coal for revival of fertilizer plants

The announcement was made after market hours yesterday, 16 May 2016.

Meanwhile, the BSE Sensex was up 138.46 points, or 0.54%, to 25,791.69 .

On BSE, so far 2,657 shares were traded in the counter, compared with an average volume of 3.02 lakh shares in the past one quarter. The stock hit a high of Rs 141.55 and a low of Rs 141 so far during the day. The stock hit a 52-week high of Rs 148.90 on 29 December 2015. The stock hit a 52-week low of Rs 107.20 on 25 August 2015. The stock had outperformed the market over the past one month till 16 May 2016, rising 2.15% compared with 0.10% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 9.67% as against Sensex’s 10.61% rise.

The large-cap company has an equity capital of Rs 8245.46 crore. Face value per share is Rs 10.

NTPC announced that it has entered into an agreement with Coal India for formation of a 50:50 joint venture company to take up the revival of fertilizer plants of Fertilizer Corporation of India (FCIL) at Sindri, Bihar and Gorakhpur, Uttar Pradesh by setting up an ammonia urea plant at each location.

NTPC’s net profit fell 18.9% to Rs 2492.87 crore on 7.6% decline in net sales to Rs 17317.50 crore in Q3 December 2015 over Q3 December 2014.

NTPC, India’s largest power company, has presence in the entire value chain of power generation business.

Government of India currently holds 69.96% stake in NTPC (as per shareholding pattern as on 31 March 2016).