New Delhi: Shares of power trading company PTC India today touched the upper circuit of five per cent for the third consecutive day. According to media reports, India and Asia’s biggest tycoon Gautam Adani can buy a stake in it. The stock has gained 15 per cent in the last three days. Government power companies have investment in this company. Along with Adani, many other companies are planning to buy stake in this company. Adani Group can make a big bet to buy it. The promoter companies of PTC India include NTPC Limited, NHPC Limited, Power Grid Corporation of India and Power Finance Corporation. All these companies are preparing to sell their four per cent stake.
PTC India scrip today opened at Rs 94.90, up 3.38 per cent and then gained 4.96 per cent to reach Rs 96.35. The stock is trading above its 5 day, 20 day, 50 day, 100 day and 200 day moving averages. PTC India share has declined 11.12% in last one year. However, this year it has gained 18.8%. Its market cap is Rs 2,852.04 crore. The company’s net profit declined by 32.26 per cent to Rs 119.79 crore in the July-September quarter as against Rs 177.11 crore in the same quarter last year. Adani is the biggest tycoon of India and Asia. According to the Bloomberg Billionaire Index, his net worth is $119 billion.
