NTPC inks two agreements with PNB for Rs. 650 crore

NTPC’s joint venture firm NSPCL has inked two agreements with Punjab National Bank (PNB) for Rs. 650 crore for financing two projects.

The agreements are for part financing of two of its under-construction projects at Durgapur (2X20 MW) for Rs. 100 crore and Rourkela (1X250) for Rs. 550 crore.

NSPCL is a joint venture of NTPC and Steel Authority of India (SAIL) that has power plants at Durgapur, Rourkela and Bhilai.

NTPC is the largest power utility company in India and has presence in Coal, Gas, Solar PV, Hydro and Wind Power Generation and Coal Mining.

On Monday, the stock of NTPC opened at Rs. 135 per share and made an intraday high and low of Rs. 135.40 and Rs. 133.70, respectively on the BSE. At 11:21 hours, the stock was trading at nearly Rs. 134.90 on the BSE. The stock had hit 52-week high of Rs. 146.19 on September 12, 2018 and a 52-week low of Rs. 106.71 on February 13, 2019.