NTPC, BHEL shares soar higher amid JV announcement in Budget 2024

NTPC and Bharat Heavy Electricals (BHEL) shares prices have surged over 2 percent, after the Union Government announced that a joint venture of the two companies will set up a full-scale 800 MW commercial plant using AUSC technology. In the exchange market, NTPC shares get higher by 2.15% to Rs 381.60 while Bharat Heavy Electricals gained 1.25% to Rs 308.70.

Join PSU Connect on WhatsApp now for quick updates! Click here

Read Also : NMDC Swarojgar Yojana Sparks Self-Employment Revolution in Kondagaon, Chhattisgarh

According to the reports mentioned, AUSC technology has been developed indigenously through a joint venture of Bharat Heavy Electricals Limited, Indira Gandhi Centre for Atomic Research and NTPC.

Provisionally, the central government has reportedly spent Rs 1,554 crore on developing the technology.

Read Also : MRPL Outshines Bright with Four Excellence Awards

The Union Finance Minister said: "Government to partner with the private sector to set up Bharat small reactors. Joint venture between NTPC and BHEL to set up a full-scale 800 MW commercial plant using AUSC (Advanced Ultra Supercritical) technology. Government to provide required fiscal support for NTPC, BHEL JV."

The statement was reported during the budget meet. Finance Minister Nirmala Sitharaman is presenting the first Union Budget of the Modi 3.0 government after the Lok Sabha elections triumph.

Read Also : RINL wins Gold award at the AP State Energy Conservation Award-2024