NVVN acquires 5% Equity stake in PXIL

NTPC Vidyut Vyapar Nigam Ltd. (NVVN), a wholly owned subsidiary of NTPC Ltd. has acquired 5% equity stake in Power Exchange of India Ltd (PXIL). NVVN has purchased these shares from NSE Investment Limited, a copromoter shareholder of PXIL, on January 31, 2022.

NVVN is one of the top power traders in India and the acquisition of an equity stake in PXIL is a strategic opportunity for NVVN to achieve and maintain a leadership position in the rapidly changing Power trading market.

NVVN was formed by NTPC Ltd., India's largest power generator and a Maharatna Company, in the year 2002, as its wholly owned subsidiary to tap the potential of power trading in the country. NVVN holds a highest Category 'I' power trading license in terms of latest CERC regulations.

PXIL is India's first institutionally promoted power exchange, promoted by NSE Investment Ltd. & NCDEX and has been providing innovative and credible solutions since 2008.

Shares of NTPC Limited was last trading in BSE at Rs. 142.05 as compared to the previous close of Rs. 140.20. The total number of shares traded during the day was 979170 in over 11120 trades.

The stock hit an intraday high of Rs. 143.00 and intraday low of 138.55. The net turnover during the day was Rs. 138032885.00.

Source : Equity Bulls

Keywords

NTPC INE733E01010 NTPCVidyutVyaparNigam Acquisition PowerExchangeofIndia