NTPC hits 52-week low after slashing capacity addition target

NTPC fell 2.87% to Rs 143.60 at 15:25 IST on BSE, with the stock extending 5-day 5.49% slide triggered by the state-run power generation firm slashing its capacity addition target for the next five years. Meanwhile, the BSE Sensex was up 99.87 points or 0.62% to 16,315.71. On BSE, 4.61 lakh shares were traded in the counter as against average daily volume of 1.50 lakh shares in the past one quarter. The stock hit a low of Rs 142.60 so far during the day, which is a 52-week low for the counter. The stock hit a high of Rs 147.45 so far during the day. The stock had hit a 52-week high of Rs 192.30 on 8 July 2011. The stock had underperformed the market over the past one month till 14 May 2012, falling 11.15% compared with the Sensex's 5.14% fall. The scrip had also underperformed the market in past one quarter, declining 18.43% as against Sensex's 9.15% fall. The large-cap state-run power generation firm has an equity capital of Rs 8245.46 crore. Face value per share is Rs 10. The NTPC stock has tumbled 8.21% in six trading sessions from Rs 156.45 on 7 May 2012. NTPC chairman Arup Roy Choudhury said last week that the company has more than halved its capacity addition target for the next five years through 31 March 2017, mainly due to fuel shortages and problems in land acquisition. NTPC is now aiming to add 14 gigawatts (GW) of capacity in the next five years, compared with 29 GW earlier planned. NTPC has a generation capacity of 37.5 GW. NTPC's net profit fell 6.8% to Rs 2593.44 crore on 4.8% growth in net sales to Rs 16263.56 crore in Q4 March 2012 over Q4 March 2011. Net profit rose 1.3% to Rs 9223.73 crore on 11.4% growth in net sales to Rs 61144.89 crore in the year ended 31 March 2012 over the year ended 31 March 2011. Consolidated net profit rose 4.9% to Rs 9812.79 crore on 13.1% growth in net sales to Rs 64958.32 crore in the year ended 31 March 2012 over the year ended 31 March 2011. The result was announced on 10 May 2012. NTPC, India's largest power company, has a significant presence in the entire value chain of power generation business.