New acquisition powers PTC India over 4%

DALAL STREET SPIKES

PTC India gained over 4 per cent in the intra-day trades after the on company announced the acquisition of an 11 per cent stake in a power project. The deal is worth around Rs 30 crore.

The stock, after hitting an intra-day high of Rs 53.70, closed at Rs 52.60 with more than 5.4 lakh shares changing hands on the BSE on Tuesday.

PTC India stock rallied along with the smart gains in other power sector stocks. In Tuesday's trading NTPC stock was up more than 2.3 per cent to Rs 81.35.

Other sector stocks such as power equipment major Bhel was up 2.2 per cent to Rs 700.50. Tata Power was up 1.6 per cent to Rs 363.25, while KEC International was up 2.6 per cent to close at Rs 133.50.

A host of power sector stocks have appreciated more than 15 per cent in the last three months.