NTPC firms up as German bank to offer $100 mln credit

NTPC was up 2.37% to Rs 148.75, after informing about its agreement with KFW, Germany, for a term loan of $100 million.The NTPC scrip touched a high of Rs 154.45 in December 2006 and fell to a low of Rs 129 in March 2007.

The loan agreement, which state-run NTPC signed, is an unsecured facility without sovereign guarantee bearing variable interest linked to LIBOR, and has a maturity of 10 years.NTPC plans to utilise the money to part finance the expenditure on renovation and modernisation (R&M) of its power plants.