CNBC-TV18 has learnt from sources that state-run power giant NTPC is looking to buy a stake in Power Exchange of India.
NTPC may buy 7 to 10 percent stake in Power Exchange of India. Power Exchange of India was promoted by the NSE and NCDEX. Earlier in 2018 too, NSE had tried selling a stake in Power Exchange of India.
Other stakeholders in Power Exchange of India include GMR Energy, West Bengal Discom, PFC, Gujarat Urja Vikas Nigam, and Tata Power.
Till the time of publishing this news, NTPC had not responded to a query from CNBC-TV18.
The news of the possible stake sale comes on the back of a policy change wherein state discoms have been allowed to plan power purchases from the day ahead market on the exchange.
NTPC will be a serious player in the power exchange business. Its power trading arm NTPC Vidyut Nigam is eyeing a divestment of Rs 15,000 crores by FY24. This is a positive for the company.
Investors will however, have to wait and watch for action on this front.