NTPC Ltd.: NTPC tanks 4% as Chamoli avalanche damages hydropower project

NEW DELHI: Shares of NTPC fell practically Four per cent in Monday’s commerce after part of the corporate’s under-construction hydropower undertaking received broken by the avalanche in Uttarakhand’s Chamoli district.

The corporate has mentioned that it’s monitoring the state of affairs repeatedly together with the district administration and police.

Following the event, the inventory fell 3.66 per cent to hit a low of Rs 96 on BSE. The inventory recovered later and was buying and selling 0.9 per cent decrease at Rs 98.75 by 10.10 am.

Part of the under-construction Tapovan Vishnugad hydro energy undertaking (520 MW) has confronted damages whereas one other privately-owned Rishi Ganga hydro undertaking (130 MW) was fully devastated.

“An avalanche close to Tapovan in Uttarakhand has broken part of our under-construction hydropower undertaking within the area. Whereas rescue operation is on, state of affairs is being monitored repeatedly with the assistance of district administration and police,” NTPC mentioned in a tweet.

Uttarakhand Chief Minister Trivendra Singh Rawat mentioned that 125 persons are lacking following the huge flood, PTI reported.

The incident occurred after the water stage in Dhauliganga river, instantly surged on Sunday morning following an avalanche close to the Rishi Ganga energy undertaking. The 85 km river meets the Alaknanda river at Vishnuprayag on the base of Joshimath mountain in Uttarakhand.

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