NTPC powers ahead
NTPC rose nearly 1% to Rs 130.70 after the government on Thursday gave NTPC a waiver on Rs 1000 crore-investment ceiling which would enable the power generation major to bid for two large power projects.
34,516 shares changed hands in the counter on BSE.
The Cabinet Committee on Economic Affairs on Thursday gave its approval for waiving the ceiling of Rs 1000 crore for equity investments by NTPC to establish financial joint ventures and wholly owned subsidiaries in India or abroad for ultra mega projects. The Cabinet’s decision will help NTPC bid for large power projects being established at the initiative of the ministry of power.
However the ceiling of 15% of the net worth of NTPC in one project and the overall ceiling of 30% of the net worth of NTPC in all such projects of NTPC put together remains.
In September 2006, NTPC commissioned a 210 MW unit in Uttar Pradesh which raised NTPC’s totaled installed capacity including those owned through joint venture companies to 26404 MW.In the same month, NTPC signed a Memorandum of Agreement (MOA) with the Government of Arunachal Pradesh for implementation of the 2 hydroelectric power projects in the states with a capacity of 4000 MW and 500 MW.The company has also signed a Memorandum of Understanding with Delhi Transco for exploring the possibility of expanding its Badarpur Thermal Power Station, New Delhi by adding 2 x 490 MW Units subject to environmental and other clearances.
The company has also signed a Memorandum of Understanding with Haryana Power Generation Corporation and Indraprastha Power Generation Co to establish a 1500 MW Coal Based Power Plant in the State of Haryana, subject to establishment of techno-commercial feasibility and necessary clearances/approvals. The Plant will be set up by NTPC on concept to commissioning basis for the exclusive use of Haryana and Delhi on long-term management contract of at least 25 years.
NTPC’s net profit rose 27% in Q2 September 2006 to Rs 1473.90 crore, on 15% growth in net sales to Rs 6813.80 crore.
34,516 shares changed hands in the counter on BSE.
The Cabinet Committee on Economic Affairs on Thursday gave its approval for waiving the ceiling of Rs 1000 crore for equity investments by NTPC to establish financial joint ventures and wholly owned subsidiaries in India or abroad for ultra mega projects. The Cabinet’s decision will help NTPC bid for large power projects being established at the initiative of the ministry of power.
However the ceiling of 15% of the net worth of NTPC in one project and the overall ceiling of 30% of the net worth of NTPC in all such projects of NTPC put together remains.
In September 2006, NTPC commissioned a 210 MW unit in Uttar Pradesh which raised NTPC’s totaled installed capacity including those owned through joint venture companies to 26404 MW.In the same month, NTPC signed a Memorandum of Agreement (MOA) with the Government of Arunachal Pradesh for implementation of the 2 hydroelectric power projects in the states with a capacity of 4000 MW and 500 MW.The company has also signed a Memorandum of Understanding with Delhi Transco for exploring the possibility of expanding its Badarpur Thermal Power Station, New Delhi by adding 2 x 490 MW Units subject to environmental and other clearances.
The company has also signed a Memorandum of Understanding with Haryana Power Generation Corporation and Indraprastha Power Generation Co to establish a 1500 MW Coal Based Power Plant in the State of Haryana, subject to establishment of techno-commercial feasibility and necessary clearances/approvals. The Plant will be set up by NTPC on concept to commissioning basis for the exclusive use of Haryana and Delhi on long-term management contract of at least 25 years.
NTPC’s net profit rose 27% in Q2 September 2006 to Rs 1473.90 crore, on 15% growth in net sales to Rs 6813.80 crore.
posted by SY at 4:17 PM
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