After big bank merger, Modi govt plans merging power companies; NTPC, NHPC to lead


After big bank merger, Modi govt plans merging power companies; NTPC, NHPC to lead

After merging PSU banks, the government is mulling over a plan to consolidate power sector companies, ET Now reported citing unidentified sources. Both finance and power ministries are in advanced talks to merge power firms with NTPC and NHPC, it added. Smaller projects such as Tehri Hydro Development Corporation (THDC), SJVNNSE and North Eastern Electric Power Corporation (NEEPCO) are expected to be merged with NTPC or NHPC, the report also said.  The Modi government is looking to get nearly Rs 13000 to 14000 crore from these mergers, it added. While shares of NHPC were trading at Rs 23.95, down 0.35 points or 1.44 per cent, NTPC stock was at 122.30, down 2.20, or 1.77 per cent on NSE at the time of reporting.

Finance Minister Nirmala Sitharaman on August 30, 2019 announced merger of10 public sector banks to be merged into four. Indian Bank was merged with Allahabad Bank (anchor bank – Indian Bank) Read More

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