Shares of NTPC Ltd. and BHEL Ltd. saw recovery after Finance Minister Nirmala Sitharaman’s announcement of a new Joint Venture (JV) between the two state-run companies. Here are the key points:
Key Highlights:
– JV Formation: NTPC and BHEL will collaborate to set up an 800 MW Ultra Super Critical Thermal Power Plant.
– Government Support: The government will provide the necessary fiscal support for this project.
– Advanced Technology: Ultra Supercritical power plants operate at higher temperatures and pressures, enhancing efficiency.
– Previous Success: India’s first Ultra Supercritical Power Plant was commissioned by NTPC in Madhya Pradesh with a capacity of 660 MW in 2019.
– Boost to Energy Sector: This initiative aims to increase India’s power generation capacity and promote advanced technology in the energy sector.
– Positive Market Reaction: Shares of NTPC Ltd. and BHEL Ltd. recovered following the announcement, reflecting market optimism.
NTPC is currently trading 2.22% higher at ₹381.80 recovering from day’s low of ₹361.55 and BHEL is trading 0.52% higher at ₹306.50 recovering from day’s low of ₹283.00 on NSE.
