NTPC stock in focus on plans to sell shares of two two clean energy subsidiaries.
The subsidiaries are – NTPC Vidyut Vyapar Nigam Ltd (NVVN) and NTPC Renewable Energy Ltd (NTPC REL).
State-run, NTPC stock is in focus on Tuesday as reports state that the company is preparing for share sales of its units NTPC Vidyut Vyapar Nigam Ltd (NVVN) and NTPC Renewable Energy Ltd (NTPC REL).
At around 10.28 am, NTPC is trading at Rs118.50 per piece down by 0.3% on Sensex. The stock has touched an intraday high and low of Rs119.40 per piece and Rs118.45 per piece respectively.
According to LiveMint, two people aware of the development said that NTPC has started the groundwork to hold initial share sales of its units NVVN and NTPC REL.
Reportedly, NVVN and NTPC REL are expected to be among the first clean energy firms to list on domestic bourses. Both are likely to play a pivotal role in helping India’s largest power generation utility reach 60 gigawatts (GW) renewable energy capacity by 2032 from around 4GW currently.
The company has plans to make investment of Rs1 trillion between 2019 and 2024 for becoming a 130GW power producer by 2032.