NTPC shares were trading lower in early trade on April 22 after the company's wholly-owned subsidiary signed a Memorandum of Understanding (MoU) with Indus Towers.
"NTPC Green Energy Limited (NGEL) and Indus Towers Limited (ITL) on April 18 signed an MoU to address the need for pacing green energy objectives and the GOI’s efforts towards carbon neutral economy," the company said.
NTPC Green Energy Limited (NGEL) is a wholly owned subsidiary of NTPC.
The MoU is to explore joint development of grid-connected renewable energy-based power projects including solar, wind, energy storage, etc., and solutions thereof.
Indus Towers Limited aims to expand its renewable energy portfolio in a phased manner to Giga Watt scale capacity, for its business operations spread across the country, as a part of its net zero commitments.
In early trade, around 6.12 million shares of NTPC traded in a bunch, reported Bloomberg.
Earlier this month, the company received an order from the State Tax Officer, Ghatak 57, Range -15, Division – 7, Surat, Gujarat, for collection of interest and penalty under Goods and Service Tax laws for Rs 28.93 lakh.
Also, it received an order from the Deputy Commissioner (ST), State Special Circle-I, Kunchanapalli, Guntur Distt. for Rs 7.91 crore.
The company will file an appeal before the First appellate authority of the applicable jurisdiction against the said orders within the prescribed timeline.
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