NTPC signs loan agreement with LIC

National Thermal Power Corporation Ltd (NTPC) has announced that the Company has signed a loan Agreement of Rs 1000 crores alongwith a Bond Subscription Agreement of Rs 1000 crores with Life Insurance Corporation of India on December 26, 2007 to finance Capital Expenditure of its power generation projects, Coal Mining business, Renovation and Modernization activity and LNG business. The door-to-door maturity of both the agreements is 11 years, the repayments to take place in 14 half yearly installments commencing after 4 years. The interest rate / coupon is linked to 10 year G-sec Rate plus margin. The proceeds under these Agreements are to be utilized before end of March' 2008.

The Stock closed the day at Rs.239.95, up by Rs.0.60 or 0.25%. The stock hit an intraday high of Rs.242 and low of Rs.237.50.

The total traded quantity was 1451520 compared to 2 week average of 1492233.

Source : Equity Bulls

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