NTPC may receive `600cr as compensation for scrapped hydro
project in Uttarakhand
The Cabinet Committee on Economic Affairs (CCEA), in its meeting today, is likely
to take up the issue of granting compensation to NTPC for `600cr expenditure
incurred on the 600MW Loharinag pala hydro project in Uttarakhand. NTPC has
paid advances of `764cr for implementation of the project, which got scrapped in
November last year due to authorities declaring the area as an eco-sensitive zone.
Management had earlier indicated that it was confident of recovering the funds
and, hence, had not made any provision regarding the same. We maintain our
Buy recommendation on the stock with a target price of `201.
project in Uttarakhand
The Cabinet Committee on Economic Affairs (CCEA), in its meeting today, is likely
to take up the issue of granting compensation to NTPC for `600cr expenditure
incurred on the 600MW Loharinag pala hydro project in Uttarakhand. NTPC has
paid advances of `764cr for implementation of the project, which got scrapped in
November last year due to authorities declaring the area as an eco-sensitive zone.
Management had earlier indicated that it was confident of recovering the funds
and, hence, had not made any provision regarding the same. We maintain our
Buy recommendation on the stock with a target price of `201.
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