India's NTPC hits record high on report unit picks banks to manage $1.20 bln IPO

Torrent Power

12/04/2024 07:00

** Shares of power generator NTPC  NTPC.NS  rise as much as 3.3%
to a record 374.5 rupees
    ** Co's unit NTPC Green Energy shortlists IDBI Capital
Markets and Securities, HDFC Bank  HDBK.NS , IIFL Securities
 IIFS.NS  and Nuvama Wealth Management  NUVA.NS  to manage its
100 bln rupees ($1.20 bln) IPO- report
    ** NTPC did not immediately respond to Reuters request for
comment 
    ** Stock among top gainers on Nifty 50 index  .NSEI , which
is down 0.3%; reverses course after falling for two straight
sessions 
    ** It is trading above its 200-day simple moving avg since
July 6, volumes at 25.1 mln shares- 2.7x the 30-day avg 
    ** Inlcuding session's gains, stock up ~18% YTD, peers
Torrent Power  TOPO.NS  and Tata Power  TTPW.NS  up 71% and 33%,
respectively
    ** Analysts avg rating on NTPC stock is "Buy", TOPO is rated
"Sell", while TTPW is rated "Hold"- LSEG

($1 = 83.3660 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))