Tie-up with Indonesian firm powers NTPC

National Thermal Power Corporation gained 1.31% to Rs 192.70 at 11:44 IST on BSE on reports it had tied up with Indonesian company Sugico Graha for coastal ultra mega power projects for which government may invite bids in future.
Meanwhile, BSE Sensex was down 45.39 points or 0.28% to 16,294.50.
On BSE, 8.46 lakh shares were traded in the counter. The scrip had an average daily volume of 34.31 lakh shares in the past one quarter.
The stock hit a high of Rs 195.20 and a low of Rs 190 so far during the day. The stock had a 52-week high of Rs 291 on 15 January 2008 and a 52-week low of Rs 129 on 5 March 2007.
The large-cap scrip had outperformed the market over the past one month till 4 March 2008, declining 11.31% compared to the Sensex’s fall of 12.44%. It had underperformed the market in the past one quarter, declining 22.10% compared to Sensex’s decline of 17.22%.
The company’s current equity is Rs 8245.46 crore. Face value per share is Rs 10.
The current price of Rs 192.70 discounts Q3 December 2007 annualized EPS of Rs 8.63, by a PE multiple of 22.33.
National Thermal Power Corporation (NTPC) has already signed a confidentiality agreement with Sugico Graha, report added.
Sugico Graha is in the businesses of gas and oil production, electric power generation, coal mining, iron sand mining, lime stone mining, coal bed methane (CBM) and plantation of jatropha curcas with the ultimate goal of producing biodiesel.
On 15 February 2008, NTPC signed an agreement with Bihar State Electricity Board to form a joint venture company to undertake a thermal power project in Bihar.
On 27 February 2008, the company signed a loan agreement for 68.56 million euros with Nordic Investment Bank to part fund its capital expenditure.
In November 2007, NTPC signed memorandum of understanding (MoU) with Uttar Pradesh Rajya Vidyut Utpadan Nigam to form a joint venture for establishing and operating a coal based thermal power project at Meja Tehsil or any other suitable site in Allahabad district in Uttar Pradesh.
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 India and abroad.