State power generation company NTPC Limited (NTPC) is planning to sell its stake in India’s largest power trading firm PTC India Limited (PTC india).
Sources knowing this matter have given this information.
According to a report in Mint quoting sources, India’s largest power producer NTPC is preparing to withdraw its entire investment from scam-hit PTC.
Please tell us that PTC India is the largest power trading company in the country.
In the recent past, several independent directors have resigned amid reports of a major scam in PTC India and its subsidiary company.
NTPC also appointed a consultant for this
On the condition of anonymity, sources said that NTPC has also appointed a consultant for this.
In its annual report for FY 2022, NTPC said that PTC India had been formed on the guidelines of the Government of India, so it will need the approval of the Center to sell its stake.
Decision not yet Final
According to sources, NTPC Power Trading Company is preparing to exit from PTC India.
Still, this decision can have a significant impact on the market. In such a situation, the company is taking great care.
It has yet to take any firm decision on exiting PTC India.
Another source has said that this plan of NTPC to exit from PTC India is a part of NTPC’s plan to exit from subsidiaries and joint ventures.
Earlier, Mint had reported in a report published on September 6 that NTPC is planning to sell its stake in some subsidiaries and joint ventures as a part of its asset monetization plan.
NTPC Stock Movement
If we look at the movement of NTPC shares today, this share has closed at Rs 168.90 on NSE with an increase of Rs 0.60, i.e., 0.35 percent.
The 52-week high of this stock is Rs 182.95. Its 52-week low is Rs.119.10. Today’s stock’s low is Rs.167.55. At the same time, the day’s high is Rs.170.
The volume of the stock is 7152515 shares. The market cap of the company is Rs 163776 crore.
NTPC’s share has lost 3.75 percent in 1 week. At the same time, it has fallen by 1.49 percent in 1 month. The stock has seen a gain of 1.50 percent in 3 months.
At the same time, this year, so far, this share has run 35.77 percent.
At the same time, in 12 months, this stock has seen a return of 33.89 percent. At the same time, this share has run 47.58 percent in the last year.
