NTPC plans to establish 2,640 MW facility in Madhya Pradesh

National Thermal Power Corporation Ltd (NTPC Ltd), leading public-sector power utility, has announced that it has inked a pact with the Madhya Pradesh government as well as MP Power Trading Company for installing thermal power facility of 2,640 Mega Watts in the Narsinghpur district of Madhya Pradesh.

In a declaration, the company said that its upcoming plant will have four units of 660 mega watts each having supercritical technology.

The overall installed capacity of the company stood at 30,644 MW through its 26 power facilities.

The sources informed that the conglomerate intends to add a capacity of 75,000 Mega Watts by fiscal 2017. Presently, the company is having projects with a capacity of 17,930 Mega watts under execution.

NTPC Ltd is the largest power utility in the country and is also the fourth largest power generating company in Asia and the sixth largest in the world.


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Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Owner of Energy giant Reliance Industries, Mukesh Ambani has put in an extra 0.68% in EIH Ltd. With this, his total stake in the hotel chain has increased to 14.8%. In a filing to the Bombay Stock Exchange, EIH said that the shares were purchased from the market on Tuesday.

Shares of Reliance surged 0.3% at Rs. 939.3 in proportion to the Mumbai market at 1.26pm, while EIH shares witnessed a 4.5% rise at Rs. 150.2.

On Monday, Reliance was quoted saying that it is widening its horizon and has procured 14.12% stake in EIH for a sum of $217.5 million.

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

On Thursday, Bajaj Auto posted a 55% increase in its sales of vehicles. In the month of August, the Company recorded sales of 3,29,364 vehicles, compared to 2,13,072 units in the same month the year before.

Last month, 2,89,176 two wheelers were sold by Bajaj Auto, a big surge than 1,82,441 units, which were sold in August 2009. The Company’s cumulative sales of two wheelers for the time frame between April and August 2010 increased by 68% and were recorded at 1,397,348 units. The number was high from 833,235 units that were retailed during the same period last year.