NTPC replaces Dabur India on Nifty, CNX 100 indices

MUMBAI: State-run power major NTPC Ltd will replace Dabur India in two indices of National Stock Exchange - S&P CNX Nifty Index and CNX 100 index - from September 24.

The index maintenance sub-committee has decided to exclude Dabur from the two indices and inducted NTPC in its place during its periodic review. The changes would become effective from September 24, NSE said in a press release.

Besides, the committee excluded fifteen companies such as Aditya Birla Nuvo, United Spirits, Indiabulls Financial Services, Jindal Steel & Power and Bank of India from the CNX Midcap Index. In their place, 15 other companies such as Essar Steel, Lanco Infratech, Biocon, HT Media, Tata Tea and Yes Bank have been included, the release said.

Further, 10 companies were excluded from the S&P CNX 500 index and in their place 10 other were included namely - Idea Cellular, Sobha Developers, Television Eighteen India and Power Finance Corporation, the release added.

Read more in The Economic Times

Era Constructions bags Rs 136cr NTPC order

Era Constructions India has won an order from NTPC for main plant & offsite civil works to be carried at the Simhadri Super Thermal Power Projects.

According to a release issued by Era Constructions the value of the contract is around Rs 136.33 crore and is to be executed over a period of 43 months.

Reliance Power bags Sasan

Matches Lanco-Globeleq price.

The three months of uncertainty over the 4,000 Mw Sasan ultra mega power project is finally over. Anil Dhirubhai Ambani Group (ADAG) company Reliance Power Limited (RPL) has bagged the project after matching the tariff of Rs 1.196 per unit quoted by the original winning bidder, a consortium of Singapore-based Globeleq and Hyderabad-based Lanco Infratech, which was disqualified.

After an hour-long meeting, the empowered group of ministers (EGoM) today awarded the Rs 20,000 crore project in Madhya Pradesh — the country’s largest thermal power project — to Reliance Power.

“Sasan Power Limited had received revised offers from three bidders that included Jai Prakash Associates, NTPC Limited and Reliance Power Limited and the revised bid of Reliance Power quoting a levellised tariff of Rs 1.196 per unit was the lowest,” said Power Minister Sushilkumar Shinde, who also heads the EGoM.

The EGoM has asked Sasan Power to award RPL the letter of intent (LoI) for the project, the minister said. Sasan Power Ltd is the shell company floated by the Power Finance Corporation to pilot the Sasan project. Read more at Business Standard

NTPC seeks govt nod for power bourse

State owned power firm, NTPC Limited has sought approval from Central Electricity Regulatory Commission (CERC) for its proposed power trading exchange to be set up in Delhi. Commodity bourse National Commodity and Derivatives Exchange (NCDEX) and hydro power major National Hydroelectric Power Corporation (NHPC) have given in principle nod to act as promoters in the new trading company, NTPC said in its release.

Apart from NHPC and NCDEX, some other major stakeholders are expected to join as promoters for the proposed exchange, which would operate as a separate company, the note said. Other partners for the exchange may include Power Grid Corporation of India Ltd and Power Finance Corporation,sources said. The exchange would be set up at a cost of about Rs Rs 15-20 crore.

Read more in Financial Express

ICICI Bank to raise Rs 20,000 cr in June

Biggest fund-raising by an Indian firm: Rs 15,000cr public offer, Rs 5,000cr ADR.

ICICI Bank, the country’s second largest bank, will raise Rs 20,000 crore in June this year - a combination of Rs 15,000 crore follow-on public offer in the domestic market and Rs 5,000 crore American Depository Receipts issue. This is the biggest-ever fund-raising plan by an Indian bank.

The bank will also consider exercising a greenshoe option, which could almost double the bank’s net worth of Rs 24,313 crore as on March 31, 2007.

Read more at Business Standard