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Hot Pursuit
17-Jan-23
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NTPC gains on arm signing MoU with Govt of Tripura
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NTPC rose 1.15% to Rs 167.65 after the company's wholly owned subsidiary, NTPC Renewable Energy, signed memorandum of understanding (MoU) with Government of Tripura in New Delhi for development of renewable energy projects in the hilly state.
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The MoU calls for for development of floating and ground mounted based renewable energy projects in the state of Tripura.
This MoU embarks upon the journey towards development of large sized renewable energy projects in the state of Tripura and shall help Government of Tripura in meeting its clean energy commitments and obligations.
NTPC is primarily involved in the generation and sale of bulk power to state power utilities. Other business of the group includes providing consultancy, project management & supervision, energy trading, oil & gas exploration and coal mining.
The company's consolidated net profit declined 7.2% to Rs 3,338.45 crore despite of 36.3% jump in net sales to Rs 44,175.03 crore in Q2 FY23 over Q2 FY22.
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