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Stock Report
NTPC and Singareni Collieries to form JV company
Posted On : 2007-05-11 07:53:21( TIMEZONE : IST )
National Thermal Power Corporation Ltd (NTPC) has announced that on May 11, 2007 the Company and The Singareni Collieries Company Ltd (SCCL) have signed a Joint Venture Agreement for creation of a Joint Venture Company to undertake various activities in coal and power sectors including acquisition of coal / lignite mine blocks, development and operation of integrated coal based power plants and providing consultancy services. In the proposed Joint Venture Company both the Company and SCCL shall hold 50% equity each.
The stock closed the day at Rs.154.90, up by Rs.3.80 or 2.51%. The total traded quantity was 513992 compared to 2 week average of 341017. The stock hit an intraday high of Rs.155.50 and low of Rs.148.50.
