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Why NTPC share price rose 5% today

Share of NTPC gained 4.77% intra day to Rs 101.1 against previous close of Rs 96.50 on BSE. The share was among the top Sensex gainers

twitter-logoBusinessToday.In | September 1, 2020 | Updated 12:27 IST
Why NTPC share price rose 5% today
NTPC stock has gained after 6 days of consecutive fall. Share price of the firm has lost 19% in one year and fallen 17.14% since the beginning of this year.

NTPC share price jumped 5% intra day after the firm said it would seek shareholders' nod to raise up to Rs 15,000 crore through issuance of bonds in the annual general meeting.  The AGM is scheduled for September 24.

Share of NTPC gained 4.77% intra day to Rs 101.1 against previous close of Rs 96.50 on BSE. The share was among the top Sensex gainers.  

The stock has gained after 6 days of consecutive fall. Share price of the firm has lost 19% in one year and fallen 17.14% since the beginning of this year. Stock has gained 13.39 % in one month.  The share trades  higher than 20 day, 50 day and 100 day moving averages but lower than 5 day and 200 day moving averages.

Total 12.76 lakh shares changed hands amounting to turnover of Rs 12.61 crore on BSE.

Market cap of the firm rose to Rs 98,302 crore. At 12: 11 pm, the share was trading 2.95 % higher at Rs 99.35.

The stock of govt-owned NTPC hit 52-week high of Rs 129.55 on September 5, 2019 and 52-week low of Rs 74 on March 23, 2020.

The funds are proposed to be raised on private placement basis in one or more tranches not exceeding 30, as per the company's notice for the annual general meeting (AGM). The special resolution for AGM proposes to make offers or invitations to subscribe to the secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures up to Rs 15,000 crore, the notice said.

The funds would be raised for capital expenditure, working capital and general corporate purposes, in the domestic market.

L&T share rises 2% on sale of electrical and automation business to Schneider Electric

The energy firm reported a six per cent fall in net profit to Rs 2,948.94 crore in Q1 against Rs 3,132.73 crore in the corresponding quarter of the previous financial year. Total income during April-June 2020 fell to to Rs 26,794.68 crore compared with Rs 27,353.36 crore in the year-ago period.

The firm's total expenses were at Rs 22,649.04 crore, against Rs 23,814.32 crore a year ago.

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By Aseem Thapliyal

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