NEW DELHI: Shares of NTPC NSE -1.97 % dropped close to 2.5 per cent in Friday’s trade as the state-run power major said its board has approved a proposal to discontinue operation of Muzaffarpur Thermal Power Station (MTPS), Stage-I (2X110 MW) of Kanti Bijiee Utpadan Nigam (KBUNL) from September 8, 2021.
NTPC’s scrip touched a low of Rs 124 as against Rs 126.90 at the previous close on the National Stock Exchange.
“..on expiry of the validity of the PPA power purchase agreement) entered into with erstwhile BSEB, the Board of Directors has, in its meeting held on 30″ December 2021, accorded approval for discontinuance of operation of Muzaffarpur Thermal Power Station (MTPS), Stage-I (2X110 MW) of Kanti Bijiee Utpadan Nigam Ltd (KBUNL), a wholly-owned subsidiary of NTPC from 8 September 2021,” the company said in an exchange filing Thursday.
