NTPC executives, who had planned to join the oil sector officers' stir from this evening, deferred their agitation for the time being, as "no communication could be established with hiding members of Oil Sector Officers Association".
Power major National Thermal Power Corporation will list in major stock exchanges on November 5.
From the Sensex firms, Power Grid, NTPC, Tech Mahindra, Bharti Airtel, Tata Motors, IndusInd Bank, Reliance Industries, Kotak Mahindra Bank and Maruti were among the laggards. Asian Paints, Wipro, JSW Steel, Hindustan Unilever, Bajaj Finserv and Mahindra & Mahindra were among the biggest gainers.
NTPC Ltd on Thursday said it was taking legal opinion on the impact of a court battle between Ambani brothers group firms over gas supply and a related government petition on its ongoing case with Mukesh Ambani-led RIL.
State-owned National Thermal Power Corporation on Monday filed draft prospectus with the market regulator Sebi for enhancing equity by 5.25 per cent through an initial public offer.
From the Sensex basket, Bharti Airtel, Nestle, Maruti, Tata Motors, HCL Technologies, NTPC, Asian Paints and State Bank of India were the major gainers. Sun Pharma, Reliance Industries, Mahindra & Mahindra, JSW Steel, Tech Mahindra and Bajaj Finance were among the laggards.
The power ministry had approached the department of disinvestment in August 2007 for approval for NTPC's FPO, which could fetch the company nearly Rs 6,000 crore to part-finance its expansion programme.
From the Sensex basket, PowerGrid, Bharti Airtel, Wipro, HDFC Bank, Kotak Mahindra Bank, UltraTech Cement, Asian Paints, Infosys and Reliance Industries were the major laggards. Bajaj Finance, NTPC, Larsen & Toubro, Axis Bank, Tata Motors, IndusInd Bank and Bajaj Finserv were among the gainers.
Among the 30 Sensex companies, Kotak Mahindra Bank, Asian Paints, Reliance Industries, ITC, Sun Pharma, ICICI Bank, Axis Bank and JSW Steel were the major laggards. Larsen & Toubro, Tata Motors, Maruti, NTPC, Mahindra & Mahindra and UltraTech Cement were among the gainers.
The last batch of quarterly earnings, global trends and trading activity of foreign investors will guide the equity market movement in a holiday-shortened week ahead, analysts said. Volatility may continue amid investors' cautious approach in the election season. Markets will remain closed on Monday due to the fifth phase of the Lok Sabha elections in Mumbai.
From the Sensex basket, Larsen & Toubro, Bajaj Finance, Axis Bank, State Bank of India, UltraTech Cement, Wipro, ICICI Bank, Infosys, HCL Technologies and Asian Paints were the major gainers. NTPC, JSW Steel and HDFC Bank were the laggards.
NTPC has vowed to raise the amount of energy it generates from renewable resources
NTPC CMD said it will take nearly 3-6 months to put the unit back on track.
NTPC has served notice of power suspension from February 11 to BSES Rajdhani, an electricity distributor in the national capital, due to payment issues.
Many private players have been under pressure due to factors such as macro-economic issues and delay in receivables from state electricity boards with weak financial health.
The government is selling over 41.22 crore shares or 5 per cent stake in NTPC.
State Bank of India, NTPC, Nestle, Sun Pharma, JSW Steel, ITC, Mahindra & Mahindra and HCL Technologies were among the other major gainers.
From the Sensex firms, Wipro, NTPC, Sun Pharma, Mahindra & Mahindra, ITC and Reliance Industries were among the biggest laggards. IndusInd Bank, Axis Bank, Bajaj Finance, HDFC Bank, Larsen & Toubro and State Bank of India were among the major gainers.
From the Sensex basket, Kotak Mahindra Bank jumped 5 per cent after the company reported a 25 per cent growth in its March quarter net profit at Rs 5,302 crore, limited by a drop in the core income due to narrow interest margins. Tata Consultancy Services, Hindustan Unilever, Mahindra & Mahindra, Sun Pharma, Tech Mahindra and IndusInd Bank were among the other major gainers. Titan tanked 7 per cent after its March quarter earnings failed to cheer investors.
Shares of NTPC slid as much as two per cent on the BSE in the early trade on Thursday as the government's 9.5 per cent stake sale of country's largest power producer commenced on the bourses.
The National Thermal Power Corporation would shortly undertake work for site selection to set up nuclear power projects in Madhya Pradesh and other states.
From the Sensex basket, NTPC, Power Grid, IndusInd Bank, Tata Steel, Tata Motors, JSW Steel, Tech Mahindra and Larsen & Toubro were the biggest gainers. Bharti Airtel, Maruti, ICICI Bank and Asian Paints were the laggards.
National Thermal Power Corporation has bagged the ISTD-FICCI Award for excellence in HR practices.
It is also going for 9.5 per cent stake sale.
The government is likely to come out with 10 per cent stake sale offer of Oil India in the second fortnight of this month, followed by NTPC's issue in the first 14 days of February, a Finance Ministry official said.
Among the Sensex firms, NTPC, Power Grid, Reliance Industries, Bajaj Finserv, Axis Bank, Tech Mahindra, ICICI Bank, Bharti Airtel and IndusInd Bank were the biggest gainers. JSW Steel, Mahindra & Mahindra, Tata Steel, UltraTech Cement, Infosys and Titan were among the laggards.
State-run utility NTPC plans to more than double its power generation capacity by 2017 from the current 30,000 MW, diversifying further into renewable and nuclear energy.
NTPC is fighting a case in the Bombay high court to get gas from RIL at a committed price of $2.34 per mmBtu.
The quantities and price of $4.2 per mmBtu for gas under the GSPAs signed for five years are as approved by the government.
The petroleum ministry on Wednesday pledged support to power firm NTPC in its legal battle to get natural gas from Mukesh Ambani-led RIL at a price committed in 2004 and said the public sector unit's interests will not be compromised.
From the Sensex basket, Power Grid, Asian Paints, Tata Motors, Tata Steel, NTPC, Sun Pharma, Mahindra & Mahindra, HDFC Bank, Tata Consultancy Services and JSW Steel were among the major gainers. Kotak Mahindra Bank, Bharti Airtel, Axis Bank, Wipro, ICICI Bank and IndusInd Bank were among the laggards.
NTPC on Tuesday asked the two BSES utilities to make their payments and said in the event of failure to do so it would be forced to regulate supplies to the state discoms.
'Those betting against PSUs will likely be punished in this upswing.'
Larsen & Toubro, Axis Bank, Reliance Industries, UltraTech Cement, Mahindra & Mahindra, IndusInd Bank, ICICI Bank and Tata Steel were the other big gainers. Sun Pharma, HCL Technologies, Asian Paints, Nestle and Infosys were the laggards.
Investors' wealth jumped Rs 13.78 lakh crore on Monday as the benchmark equity index Sensex hit its lifetime high after exit polls predicted a massive win for the BJP-led NDA in the Lok Sabha polls. The 30-share BSE Sensex jumped 2,777.58 points or 3.75 per cent to hit a record peak of 76,738.89 in early trade. The benchmark finally ended at 76,468.78, registering a sharp rally of 2,507.47 points or 3.39 per cent.
The government on Wednesday said the public offer for sale of shares in state-run power firms NTPC and NHPC will come as and when market conditions are appropriate.
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