NTPC slips
National Thermal Power Corporation slipped 0.92% to Rs 204.50 at 11:20 IST on BSE, after the company said it has signed a memorandum of understanding with Bharat Forge to form a joint venture company.
The company made this announcement during trading hours today,
Meanwhile, BSE Sensex was up 3.80 points or 0.02% to 17,530.73.
On BSE, 13.46 lakh shares were traded in the counter. The scrip had an average daily volume of 35.97 lakh shares in the past one quarter.
The stock hit a high of Rs 209 and a low of Rs 201.50 so far during the day. The stock had a 52-week high of Rs 291 on
The large-cap scrip had underperformed the market over the past one month till
The company’s current equity is Rs 8245.46 crore. Face value per share is Rs 10.
The current price of Rs 204.50 discounts its Q3 December 2007 annualized EPS of Rs 8.63, by a PE multiple of 23.70.
National Thermal Power Corporation (NTPC) will hold 49% stake whereas Bharat Forge will have 51% in the joint venture. The JV will be engaged in manufacturing castings, forgings, fittings and high pressure piping required for power and other industries and balance of plant (BOP) equipment for the power sector.
In November 2007, NTPC signed memorandum of understanding (MoU) with Uttar Pradesh Rajya Vidyut Utpadan Nigam to form a JV for establishing and operating a coal based thermal power project at Meja Tehsil or any other suitable site in
NTPC’s net profit declined 15.4% to Rs 1779.90 crore on 9.4% growth in net sales to Rs 9330.80 crore in Q3 December 2007 over Q3 December 2006.
NTPC’s core business is operation of power generating plants. It also provides consultancy in the area of power generation to companies in
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