NTPC, the country's largest power producer, witnessed a rise in share price on Monday after it announced a plan to issue bonus debentures in the board meeting. It announced that a meeting of the board of directors of the company will be held on Dec. 23, 2014 to consider a proposal for issuing bonus debentures to its members, as the company has entered its 40th year of operations and is keen to reward its members for their continued support.
These bonus debentures may be issued through a scheme of arrangement under Section 391-394 of Companies Act, 1956, subject to approval of the Board and receipt of requisite approvals under applicable laws.
Shares of the company are trading at Rs 138.95, up Rs 3.45, or 2.55% at the Bombay Stock Exchange (BSE) on Monday at 10:41 a.m. The scrip has touched an intra-day high of Rs 138.95 and low of Rs 136.05. The total volume of shares traded at the BSE is 72,591. In the earlier session, the shares gained 1.92%, or Rs 2.55, at Rs 135.50.