Stocks

Explosion effect: NTPC shares fall over 2%

BL Internet Desk Chennai | Updated on January 09, 2018 Published on November 02, 2017

Shares of NTPC fell over 2 per cent on Thursday at the company has shut a 500 MW unit at its Unchahar coal-fired power station in Rae Bareli after an explosion killed 26 people and injured several others.

The 1,550 megawatt (MW) plant, which supplies electricity to nine states, had reported an explosion in the furnace beneath the boiler yesterday.

Following a negative open at Rs 177.60 against the previous close of Rs 180.15, NTPC shares touched an intraday high of 180.50 and a low of Rs 176.50. In terms of equity volume of 14.89 lakh shares exchanged hands on the BSE.

At 3 pm local time, the shares were trading down by 0.03 per cent at Rs 180.10 on the BSE. On the NSE, the stock fell 0.41 per cent to Rs 180.

NTPC has initiated a probe to ascertain the reasons behind the blast. The Uttar Pradesh Chief Minister had yesterday announced Rs. 2 lakh compensation for the families of those killed and Rs. 50,000 for the grievously injured.

Prime Minister Narendra Modi had said that he was “deeply pained” by the accident at the power plant. Union Power Minister R K Singh, through social media posts, expressed deep anguish at the loss of lives and said that he had directed NTPC Chairman and Managing Director Gurdeep Singh to rush to the site.

NTPC recorded 12.55 per cent growth in power generation in August this year compared to the same month in 2016.

“The total (power) generation for the month (August 2017) was 22.347 billion units (BU) as against 19.855 billion units,” NTPC had said in a statement.

The plant load factor (PLF) increased 5.58 per cent compared to August last year.

(With inputs from PTI)

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Published on November 02, 2017
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