NCC consortium bags NTPC order; shares up

NEW DELHI: Shares of NCC ended higher on Wednesday after the company on Tuesday said that the consortium formed by it and BGR Infra has bagged a project from NTPC to develop and operate around Rs 25,071 crore coal block in Chhattisgarh.

The scrip rose 1.21 per cent up at Rs 109.05 on BSE. Shares of the company opened at Rs 114.80 and touched a high and low of Rs 114.80 and Rs 108.60, respectively.

"The consortium formed between NCC and BGR Infra has been awarded the project relating to mine development and operation of Talaipalli coal block (MDO project) by NTPC," the infra firm said in a filing to BSE.

The coal ministry allocated the coal block located in Chhattisgarh. The coal from this block will be put to captive use for NTPC's 4,000 MW Lara Integrated Power Project.

A special purpose vehicle to be formed between NCC and BGR Mining & Infra with a sharing ratio of 51:49 will execute the project.

The announcement was made post market hours on Tuesday.

On the BSE, 11.24 lakh shares were traded on the counter, compared with average daily volumes of 5.46 lakh shares in the past two weeks.