NTPC, BHEL shares soar higher amid JV announcement in Budget 2024
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.
![NTPC, BHEL shares soar higher amid JV announcement in Budget 2024](https://www.psuconnect.in/sdsdsd/ntpc_and_bhel_shares_soar_higher_amid_jv_announcement_in_budget_2024.jpg)
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.
Read Also : Anuppur-Katni 3rd Rail Line Project: A Game-Changer for Central IndiaAccording 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 : NHPC CMD: Navratna Status Reflects Company's Growth and AchievementsThe 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 : NTPC Talcher Kaniha Receives 2024 Energy Management Insight Award from Clean Energy MinisterialNews Must Read
- Petroleum Minister Hardeep S Puri Highlights India’s Bioenergy Progress
- NBCC bags orders worth Rs. 182.50 Crore
- OMCs increases price of 19 kg commercial LPG cylinder by Rs 39
- HUDCO Issues Record Date For Dividend, Shares Rise 118% YTD
- NTPC Bongaigaon to Support TB Eradication Efforts; Partners with District Administration, Kokrajhar
- Solar Energy Corporation of India Ltd (SECI) attains Navratna Status
- Dr D K Sunil Takes Over as CMD (Additional Charge) of HAL
- DVC bags Champions Trophy for Corporate Sustainability at XLRI, Jamshedpur
- Minister Pralhad Joshi Visits IREDA Office, Reviews Company’s Strategic Growth Plan
- HAL Selects SAFHAL Helicopter Engines to Develop and Produce ‘Aravalli’ Engines