NTPC trades down after shifting coal mining business to subsidiary

The BTA will become effective upon completion of the conditions precedent mentioned in the BTA.

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Shares of NTPC were trading lower by around one percent, a day after it was announced that the transfer of six coal mines to its subsidiary NTPC Mining had been completed.

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The state-owned, National Thermal Power Corporation (NTPC) executed a business transfer agreement (BTA) with its subsidiary NTPC Mining for hiving-off coal mining business

On July 29, NTPC received board approval for hiving off its coal mining business, consisting of six coal mines, to NTPC Mining through BTA.

NTPC, which is the country’s largest power generation company recently reported a standalone net profit of Rs 4,066 crore for the quarter ending June 2024, up by 9 percent from the last fiscal. Revenue for the quarter was down 2 percent to Rs 39,122 crore.

As of 10:21 am, shares for NTPC were trading at 215.95, up by around 0.09 percent from yesterday’s close of 215.75.

Read more | NTPC inks pact to hive off mining biz to its subsidiary

NTPC also announced that it will commission unit 2 (660 MW) of stage 1 at its Barh Super Thermal Power project in Bihar. This move is expected to further boost the overall power generation capacity of the plant. The project has a combined capacity of 3,300 MW, with stage 1 and stage 2. While stage 1 has three units, stage 2 has two units – all of 660 MW capacity each. NTPC Ltd (along with its subsidiaries) is India’s largest power generator with a capacity of 73,000 MW (73 GW).

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