NTPC shares slip 5%, near 52-week low after multiple block deals

Shares of NTPC slipped 5 per cent to Rs 78.20 on the BSE on Wednesday after more than three-million equity shares of the company changed hands through multiple block deals. The stock of the state-owned electric utility company was trading close to its 52-week low of Rs 74, touched on March 23, 2020.

Till 01:20 pm, a combined 31 million equity shares, representing 0.3 per cent of NTPC’s total equity, had changed hands on the NSE and BSE, the exchange data shows.

NTPC, after market hours yesterday, announced that the company has decided to raise Rs 4,000 crore on October 15, 2020, through private placement of unsecured non-convertible bonds in the debentures at a coupon of 5.45 per cent p.a. with a door to door maturity of 5 years on October 15, 2025.