Budget 2024 Update: NTPC, BHEL to form JV for 800 MW Thermal Power Plant

23 Jul 2024 , 01:20 PM

Shares of state-run NTPC Ltd. and BHEL Ltd. recovered from their day-lows after Finance Minister Nirmala Sitharaman announced the formation of a joint venture (JV) between the two businesses.

NTPC and BHEL will form a joint venture to build an 800 MW ultra-supercritical thermal power plant. The government will offer the necessary fiscal help, according to the minister.

Ultra-supercritical power plants operate at temperatures and pressures above the critical point of water, which is the temperature and pressure at which the liquid and gas phases of water coexist in equilibrium, with no discernible difference between water gas and liquid water.

NTPC commissioned India’s first Ultra Supercritical Power Plant in Madhya Pradesh, with a capacity of 660 MW, in 2019.

Following this development, NTPC was trading 0.96% higher at ₹377.10, against the previous close of ₹373.50 on NSE. The counter touched an intraday high and low of ₹385.65, and ₹361.55, respectively.

On the other hand, BHEL’s counter was trading 1.64% higher at ₹309.90, against the previous close of ₹304.90 on NSE. The counter touched an intraday high and low of ₹315.55, and ₹283, respectively.

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