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PTC India gains on signing agreement for 720 MW Mangdechhu plant in Bhutan

20 Aug 2019

PTC India is currently trading at Rs. 58.65, up by 0.40 points or 0.69% from its previous closing of Rs. 58.25 on the BSE.

The scrip opened at Rs. 58.10 and has touched a high and low of Rs. 58.90 and Rs. 58.10 respectively. So far 1911 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 94.00 on 31-Dec-2018 and a 52 week low of Rs. 53.00 on 05-Aug-2019.

Last one week high and low of the scrip stood at Rs. 59.25 and Rs. 56.65 respectively. The current market cap of the company is Rs. 1737.57 crore.

The promoters holding in the company stood at 16.22%, while Institutions and Non-Institutions held 58.87% and 24.92% respectively.

PTC India has inked pact with Bhutan's Druk Green Power Corporation for buying surplus power from the 720 MW Mangdechhu hydro-power plant in Bhutan for the next 35 years. The government has designated PTC as the nodal agency from Indian side to purchase surplus power from Bhutan.

With the commissioning and starting of supply from Mangdechhu, the company will be managing around 2,130 MW of hydro capacity from Bhutan. The Mangdechhu plant is a 720 MW run-of-river power project built on the Mangdechhu river in Trongsa Dzongkhag district of central Bhutan. The project is funded by a mix of debt and grant from India.

The project is estimated to generate 2,923 GWh (2.923 billion units) of electricity and offset 2.2 Mt of CO2 a year. The energy generated will be transmitted to India through Jigmeling and Salakati sub-station.

PTC India is engaged in the business of trading activities that includes long term trading of power generated from large power projects as well as short term trading in India.

Related PTC India Ltd. Links:

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SEBI Registered: Investment Adviser - INA000013323