NTPC gains 2% on Plans to Hive off Stake in Newly Formed Renewable Energy Arm

The shares of NTPC saw a steady gain of 2% after the company announced its plans to hive off stakes in its newly formed renewable energy arm, NTPC-Renewable Energy (NREL). The stock touched Rs 125.95 and was quoted at Rs 125.20 on the BSE. The counter saw trades of 2.76 lakh shares on the BSE. 

The power company announced its plans to reduce its stakes in the newly formed renewable energy arm and take it down to 50%. The company decided to reduce its stakes as it is planning to go public next year.