NTPC stock top Sensex gainer as firm seeks bids to raise Rs 5,000 crore

Shares of NTPC were the top Sensex gainers today amid reports that the state-owned power giant has floated a tender to raise Rs 5,000-crore term loan from financial institutions. NTPC stock rose 2.55 per cent to Rs 162.55 against the previous close of Rs 158.50 on BSE.

The stock opened higher at Rs 158.75. NTPC shares have gained 38.26 per cent in one year and risen 30.43 per cent since the beginning of this year. Market cap of NTPC rose to Rs 1.57 lakh crore on BSE. Total 1.01 lakh crore shares of the firm changed hands amounting to a turnover of Rs 1.63 crore.

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The stock hit a 52-week high of Rs 166.30 on April 19, 2022 and a 52-week low of Rs 111.95 on August 26, 2021.

"We hereby seek participation of Banks/FIs (Financial Institutions) for the subject RFP (Request For Proposal for raising Rs 5,000 crore term loan)," a document said.

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As per the document, the bids can be submitted till 1100 hours on August 31. The minimum amount of loan offered by banks or financial institutions should be Rs 500 crore or in multiple of Rs 500 crore. The minimum amount of loan offered by banks or FIs should be Rs 500 crore or in multiple of Rs 500 crore.

The proceeds of the loan will be used for capital expenditure, refinancing of loan and other corporate purposes.

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