Shares of NTPC surge nearly 4% on NCD issue worth Rs 1500 cr

Shares of NTPC, (formerly known as National Thermal Power Corporation), zoomed nearly 4 per cent in Thursday intraday trade. The Indian public sector undertaking is engaged in the generation of electricity and other activities.

The stock of the power PSU was trading 3.65 per cent higher at Rs 324.75 intraday. The NTPC share had hit a 52 week high on March 06 reaching Rs 360 – the company’s share price has rallied over 83 per cent in the last one year till March 21.

The recent hike in the stock price comes on the back of issuance of non-convertible debentures worth Rs 1,500 crore on Wednesday. India’s largest energy conglomerate has issued the NCDs via private placement at a coupon of 7.48 per cent per annum for a tenor of 2 years, maturing on 21.03.2026.