State-run power producer NTPC today said it would form a joint venture with Nuclear Power Corporation of India Ltd for setting up a nuclear power project.
"NTPC board has approved the formation of a joint venture company with Nuclear Power Corporation of India Ltd (NPCIL) to set up a nuclear power project," company said in a statement to the Bombay Stock Exchange.
NTPC would hold 49% of the stake in the joint venture company and 51% would be held by NPCIL.
The company plans to raise up to Rs 4,500 cr from domestic as well as international markets for meeting its expansion plans in the current financial year.
NTPC posted a net profit of Rs 2,110 cr for the second quarter ended September 30, a jump of 9.60% from Rs 1,925 cr in the second quarter of last fiscal.
Total income rose by 18.94% to Rs 10,406 cr for the quarter under review, from Rs 8,749 cr in the same period last fiscal.
The company's net sales rose to Rs 19,201 cr in the first half of the current fiscal, from Rs 16,976 cr in the year-ago period.
Shares of the company closed at Rs 134.05, up 1.09 per cent on the BSE.