Commodity Online
MUMBAI: National Thermal Power Corporation Ltd (NTPC) (BOM: 532555) gained momentum in the choppy markets following company’s acquisition of considerable stake in Kerala based electrical firm.

The company has acquired 44.6% stake in Transformers & Electricals, Kerala for Rs.31.34 crore from the Kerala State government. The company stocks gained on the bourses today despite markets being negative during the day.



NTPC stocks hit a high of Rs.195.70 with a gain of over 2.5% from its previous closing. Transformers and Electricals Kerala makes and repairs heavy-duty transformers.

Meanwhile, NTPC's chairman and managing director R S Sharma today, 23 June 2009, said NTPC is open to buying Reliance Industries (RIL)'s 2.67 million standard cubic metres a day (mscmd) gas at USD 4.2 per million metric British thermal unit (mmBtu). The deal covers all of NTPC's gas stations, except Kawas and Gandhar, supplies to which are currently under litigation.

According to gas utilisation and allocation policy, an empowered group of ministers (EGoM) had approved allocation of 16.66 mscmd of gas from RIL's D6 block for the power sector. Of this, NTPC was allocated 2.67 mscmd for projects of NTPC other than the two projects for which the legal battle between NTPC and Reliance was going on.

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