Shares of NTPC were trading with steady gains of near 2 per cent on Wednesday in an otherwise rangebound market after the company announced its plan to hive-off stake in its newly formed formed renewable energy arm.
The stock touched a high of Rs 125.95, and was quoted at Rs 125.20 – up 1.7 per cent as of 12:45 am on the BSE. The counter had seen trades of around 2.76 lakh shares on the BSE. Meanwhile, the BSE Sensex was up 0.3 per cent.
The state-owned power company said it will reduce its stake in its newly formed renewable energy arm below 50 per cent as it plans to go public in the next fiscal year. NTPC-Renewable Energy (NREL) was formed in October 2020 and leads the company’s plan to construct 60 gigawatt (Gw) of renewable energy projects in this decade.
