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NTPC Jumps To 52-Week High On Report Of Suitors Eyeing Stake In Green Unit

The stock was the top gainer in the NSE Nifty 50 Index.

<div class="paragraphs"><p>NTPC's floating solar plant. (Photo:&nbsp;@ntpclimited/twitter)</p></div>
NTPC's floating solar plant. (Photo: @ntpclimited/twitter)

Shares of NTPC Ltd. hit a 52-week high on a report of the company planning to sell stake in its clean energy arm.

  • Brookfield Asset Management and Canada Pension Plant Investment Board are among 13 suitors interested in buying a minority stake in NTPC Green Energy, Bloomberg reported citing company official with knowledge of the matter.

  • NTPC is mulling sale of 26% in the clean energy arm, Bloomberg quoted the official as saying.

  • Other firms like ArcelorMittalSA, India's National Investment & Infrastructure Fund, Malaysia's Petroliam Nasional Bhd. and Abu Dhabi National Energy are also among the bidders for the green unit assets of NTPC, according to the report.

  • Shares of NTPC advanced as much as 3.5%, the most in this week so far, to a 52-week high of Rs 166.4 apiece.

  • The stock was the top gainer in the NSE Nifty 50 Index.

  • Trading volume was more than eight times the 30-day average. Of the 27 analysts tracking the company, 25 maintain a 'buy' and two suggest a 'hold', according to Bloomberg data.