NTPC stock rises 2% on buyback meet

NTPC said in the filing that its board will on November 2 consider a proposal to buy back the company's equity shares. The stock is currently trading at Rs87.65, up by Rs1.75 or 2.04% from its previous closing of Rs85.90 on the BSE.

On the last week, markets regulator Sebi granted an exemption to NTPC from certain buyback norms for the proposed merger of its wholly-owned subsidiaries with the parent company.

The scrip opened at Rs89.25 and has touched a high and low of Rs89.25 and Rs87.10 respectively.

“NTPC LTD. has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 02/11/2020, inter alia, to consider and approve In terms of Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations, 2015), it is hereby intimated that a meeting of the Board of Directors of the Company is scheduled to be held at New Delhi on Monday, 2nd November 2020, to inter-alia,” the company announced on Monday post market hours.

“consider, approve and take on record the Un-audited Financial Results of the Company for the quarter and half year ended September 30, 2020, after these results are reviewed by the Audit Committee of the Board and to consider a proposal for buyback of equity shares of the Company,” NPTC said.