In a bid to diversify its portfolio, the state-owned National Thermal Power Corporation proposes to foray into new areas, including coal mining and coal washeries, through the joint venture route where it would hold minority stake.
National Thermal Power Corporation's mega initial public offer for 86.58 crore (865 million) shares has been oversubscribed in the first 30 minutes of opening of bids.
The Supreme Court on Thursday refused to halt the Bombay High Court's decision that allowed Mukesh Ambani-led RIL to amend its plea on a gas supply deal with NTPC at a committed price citing government policy.
The company, which hired 1,050 people in the previous financial year (2008-09), has so far added a headcount of 900 and would hike this figure to 1,100 by the end of the fiscal.
The Power Ministry is believed to have instructed state-run NTPC to sign a gas supply deal with Mukesh Ambani-led RIL to lift government allotted quota, while favouring that marketing margins be decided by the Oil Ministry instead of the supplier.
The government on Friday said it is expecting to raise about Rs 8,100 crore (Rs 81 billion) from the five per cent stake sale in power PSU NTPC through a Follow-on Public Offer (FPO).
The National Thermal Power Corporation is likely to start roadshows, beginning with Mumbai, from the second week of August to lure investors for its maiden initial public offer to raise up to Rs 2,000 crore.
In a major commercial deal, Bharat Heavy Electricals Ltd has bagged five major contracts worth over Rs 2,700 crore from India's largest power utility National Thermal Power Corporation.
After a series of flip-flops, NTPC is likely to finally sign an agreement with Reliance Industries this week to buy government-allotted natural gas at officially approved price of $4.20 per mmBtu.
National Thermal Power Corporation has rejected bids of British oil and gas major BG Group and public sector oil companies' consortium Petronet LNG Ltd for supply of 3 million tonnes of liquefied natural gas.
'We are in a position to start due diligence and private data room access shortly.'
In a bid to transform itself into a multi-national company, state-owned National Thermal Power Corporation on Friday said it plans to enter the European market with a foray into England.
Reliance Industries has said that it had in December 2005 signed a contract to sell natural gas to NTPC at $2.34 per mmBtu price for 17 years, but it was the state-run firm that did not reciprocate.
From the Sensex basket, Asian Paints, Sun Pharma, HDFC Bank, Tata Consultancy Services, Axis Bank, Tata Steel, JSW Steel, Larsen & Toubro, ICICI Bank and Power Grid were the major gainers. Tata Motors dropped over 8 per cent despite reporting over three-fold jump in consolidated net profit at Rs 17,528.59 crore for the fourth quarter ended March 31, 2024. NTPC, Bharti Airtel, Titan, State Bank of India and Nestle were the other major laggards.
Equity investors suffered a massive loss of Rs 31 lakh crore on Tuesday as markets went into a tailspin with the BSE Sensex tumbling nearly 6 per cent as vote counting trends showed the BJP may not have a clear majority in the Lok Sabha polls. Erasing the record-rally of the previous trade, the 30-share BSE Sensex cracked 4,389.73 points or 5.74 per cent to settle at 72,079.05. During the day, the benchmark tanked 6,234.35 points or 8.15 per cent to hit a nearly five-month low of 70,234.43.
PSU, other govt bodies told to explain delay on developing the concessions for years.
Post-sale, the government stake would be 75 per cent, which will help NTPC to comply with the minimum public shareholding norms.
The development holds bilateral significance, as both India and Bangladesh had decided to improve economic ties in a 'win-win' mode during Bangladesh Prime Minister Sheikh Hasina's visit earlier this year.
NTPC Ltd and GAIL India Ltd may have to pump in more money into the Dabhol power plant after an official panel monitoring the progress of the beleaguered project decided to limit lenders' commitment to Rs 455 crore (Rs 4.55 billion).
RNRL and Mukesh Ambani's RIL are fighting a legal battle over the terms of gas supply agreement for Anil Ambani Group's gas-based Dadri power project. Two weeks ago, government lawyer Mohan Parasaran had stated in the court that the Empowered Group of Ministers had decided that $4.2 per mmbtu would be the minimum price of KG basin gas.
The finance ministry on Tuesday said it expects up to Rs 4,000 crore (Rs 40 billion) mop-up from the initial public offer of National Thermal Power Corporation.
The power ministry has got an assurance from the government that its company will be duly compensated.
The merchant bankers are required to submit their application by December 14.
Global agency Fitch on Monday lowered the rating outlook of public sector companies including NTPC, SAIL and IOC to negative but said the downgrade of India's credit outlook to negative would not impact the rating of Reliance Industries.
Each year lakhs of engineering students vie for just about 800 jobs in this PSU . But it's worth a try!
Located on Badrinath National Highway (NH-58), residents of Selang said they are scared and the Joshimath crisis has only deepened their fears.
The market capitalisation of BSE-listed companies soared to an all-time high of Rs 406.52 lakh crore on Monday thanks to a rally in equities where the BSE Sensex climbed over 1 per cent. The 30-share BSE Sensex rallied 941.12 points or 1.28 per cent to finish at 74,671.28. During the day, it zoomed 990.99 points or 1.34 per cent to 74,721.15.
RIL senior vice president (commercial) B Ganguly wrote to NTPC on Friday expressing his company's willingness to sign Gas Sales and Purchase Agreements for the state-run firm's Anta, Dadri and Faridabad plants.
As temperatures soar across the country, amid searing heat wave, analysts see power demand hitting fresh record highs this year. The time, therefore, may be opportune to add related stocks on dips as higher demand boosts earnings visibility, they said. On April 18, India's electricity demand touched a new high of 216 gigawatts.
RIL is relying upon the pleadings in RIL Vs RNRL case to support its defence against NTPC.
The group of four ministers or G-4, headed by Finance Minister Pranab Mukherjee, had its final meeting on Tuesday and decided to either withdraw and amend the Special Leave Petition or file separate affidavit or an interlocutory application this week, a top source said.In its present form, the government is seeking annulment of the part of the Ambani family MoU that provides for dividing gas from RIL's KG-D6 fields between companies run by brothers Mukesh and Anil Ambani.
The state-run power utility NTPC Ltd has signed an agreement to buy gas from GAIL India for 10 years at a delivered price of close to $8 per million British thermal unit.
Government will offload 9.5 per cent of its ownership.
Among the Sensex firms, Tata Steel, Tata Motors, Asian Paints, Wipro, State Bank of India and Larsen & Toubro were the major gainers. ICICI Bank, NTPC, Axis Bank and Mahindra & Mahindra were among the laggards.
As India's electricity demand soars, the power ministry on Tuesday reviewed the power supply situation to ensure 'zero load shedding' during the summer months. The ministry has drafted plans ranging from delaying planned maintenance of thermal power stations to mandatory operations of imported coal-based and gas-based stations till September. In a series of meetings with industry stakeholders, Union Minister for Power, New, and Renewable Energy R K Singh emphasised the importance of adequate planning to avoid situations where one state has surplus power while another state faces shortages.
