Shares of NTPC, BHEL settle higher on Budget JV announcement

New Delhi: Shares of NTPC and BHEL ended higher on Tuesday after Finance Minister Nirmala Sitharaman said that the state-owned enterprises in the joint venture will set up 800 MW supercritical thermal power plants with higher efficiency.

The stock of both the PSU firms rallied post the announcement.

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NTPC climbed 2.36 percent to settle at Rs 382.35 apiece on the BSE. During the day, it went up by 3.15 per cent to Rs 385.35.

Shares of BHEL ended 0.80 per cent higher at Rs 307.35 on the BSE after jumping 3.47 percent to Rs 315.50 apiece during the day.

Rally in BHEL and NTPC were in sharp contrast with bearish broader market trends.

The 30-share BSE Sensex ended 73.04 points lower at 80,429.04, while the NSE Nifty declined 30.20 points to 24,479.05.

The government will come out with a document on the energy transition pathway, Sitharaman said on Tuesday.

A policy to support pump storage projects will be brought to provide round-the-clock energy, she said while presenting the Budget for 2024-25 in the Lok Sabha.

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