Power stocks are trading mixed today. KSK Energy and Indiabulls Power are among the gainers; while Tata Power and JSW Energy are among the losers. India's largest power company National Thermal Power Corporation (NTPC) has announced that it has commissioned unit-6 of the 500 MW Rihand Super Thermal Power Project. With this, the total installed capacity has increased to 41,684 MW. The total installed capacity of Rihand has now reached 3000 MW (6x500MW). The states that will benefit from this plant are Uttar Pradesh, Uttaranchal, Rajasthan, Delhi, Punjab, Haryana, Jammu & Kashmir and Himachal Pradesh.NTPC accounted for 27.4% of India's total power generation during FY13 with 18.4% of India's total installed capacity. NTPC had achieved its highest ever capacity addition in FY13 with an addition of 4170 MW. It operates 15 coal based and 7 gas based power stations along with 7 joint venture-subsidiary power projects located across India. The company has plans to become a 128,000 MW plus company by 2032. NTPC is trading up 1.2% today.
Tata steel wants to raise these funds to retire its heavy debt of Rs 660 bn; which is largely a result of its acquisition of Corus in 2007. The company has already been offloading stakes in various group companies such as Titan, Sila Eastern and Wuxi Ltd (China) to pay off its debt.