NTPC forges alliance with Transformers and Electricals Kerala Ltd (TELK)

National Thermal Power Corporation Ltd (NTPC) has announced that the Company forges a dynamic alliance with Transformers and Electricals Kerala Ltd (TELK), a Government of Kerala Company with proven expertise of over four decades in the business of manufacture, marketing and servicing of Power Transformers, Current Voltage Transformers, Circuit Breakers, Isolated Phase Bus Ducts, Shunt Reactors etc., in a strategic step towards making the Company an integrated power major.

The Company has decided to enter into a Business Collaboration and Shareholders agreement with TELK and the Government of Kerala for synergy in the field of manufacturing and repair of high voltage power transformers and associated equipment. As a result of this agreement, the Company has agreed to acquire 44.6% stake in TELK from Government of Kerala and its undertakings presently holding 95.6% equity of TELK.

The stock closed on Friday at Rs.152.70, up by Rs.2.60 or 1.73%. The total traded quantity was 845101 compared to 2 week average of 781581. The stock hit an intraday high of Rs.155 and low of Rs.151.25.

Source : Equity Bulls

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