NTPC will develop a 1,320 MW (2 X 660 MW) thermal power project at Kajra in Lakhisarai district of Bihar.

A memorandum of understanding was signed between NTPC, Bihar state power generation company (BSPGCL) and Lakhisarai Bijlee Company (LBCPL) on Feb. 22, 2014 at Patna in Bihar.

Shares of the company declined Rs 14.20, or 10.86%, to trade at Rs 117.80 at the BSE (1.25 p.m., Monday).