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.
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.