NTPC shares edged higher on the BSE after the company signed a share purchase agreement to buy GAIL’s 25.51 per cent stake in Ratnagiri Gas and Power, commonly known as Dabhol project. At 10;35, the shares of NTPC were trading at Rs 104, higher by 0.5 per cent on the BSE.
NTPC would have 86.49 per cent stake in Ratnagiri Gas and Power post the transaction, the State-run power giant said in a regulatory filing to the stock exchanges. The Dabhol terminal currently operates only during non-monsoon months.
Meanwhile, NTPC has raised Rs 900 crore through issuance of unsecured, redeemable, taxable, listed, rated non-convertible debentures. NTPC has issued 9,000 unsecured, redeemable, taxable, listed, rated non-convertible debentures worth Rs 900 crore on February 23, 2021, the company said in a separate BSE filing on Tuesday.
The BSE Sensex was trading at 50,091.17, higher by 339.65 points or 0.67 per cent and the NSE Nifty was at 14,820.45, up 112.65 points or 0.77 per cent at the time.