NTPC proposes joint venture with NPCIL
29 Oct 2008
National Thermal Power Corporation (NTPC), the country's largest power producer, said it would form a joint venture company with the state-run Nuclear Power Corporation of India for setting up two nuclear reactors.
The board of directors of NTPC, at its meeting held on 24 October, has approved a proposal to enter into discussions with Nuclear Power Corporation of India (NPCIL) for formation of joint venture (JV) company for setting up a nuclear power project.
NTPC will hold 49 per cent equity stake in the proposed JV company and remaining 51 per cent will be held by NPCIL.
NTPC registered a 9.61 per cent growth in net profit at Rs2,110.5 crore for the quarter ended September 2008 from a profit of Rs1,925.5 million for the quarter ended September 2007.
Net sales rose 25.87 per cent to Rs1,0091 crore for the quarter ended September 2008 from Rs8017 crore for the quarter ended September 2007.
Shares of the company gained Rs1.45, or 1.09 per cent, to settle at Rs134. The total volume of shares traded was 1,651,154 at the BSE.