NTPC pares some gains; EAC expresses concerns over Pudimadaka project

NEW DELHI: Shares of NTPC surged over 3 per cent in Tuesday's trade after the company announced building of a township near its super thermal power project in Nabinagar. The thermal power project is a joint venture between NTPC and Bihar State Power Generation Company.

Reacting to the announcement, the scrip gained 3.6 per cent to hit a high of Rs 149 on the BSE.

However, the stock later pared some of the gains as media reports suggested that the company's ultra mega power plant in Pudimadaka is likely to face further delay after an expert appraisal committee (EAC) of the Ministry of Environment and Forests expressed doubts over coal linkage and evacuation of raw material to the project site.

At the time of writing of this report, the stock was trading 1.23 per cent higher at Rs 146.10.