Shares of NTPC and BHEL gained on Tuesday after Finance Minister Nirmala Sitharaman announced joint venture between the companies to develop a thermal power plant in the budget speech.
What Happened: Nirmala Sitharaman announced joint venture between BHEL and NTPC to set up a full-scale 800 mega watt commercial thermal plant using AUSC (Advanced Ultra Supercritical) technology. This technology will help the country to reduce its carbon footprint. In the energy sector, the finance minister also announced research and development of small and modular nuclear reactors and newer technologies for nuclear energy.
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Additionally, Sitharaman also announced ₹11.11 lakh crore capital expenditure at 3.4% of the GDP, unchanged from the interim budget announcement.
Price Action: Shares of BHEL rose 1.51% to ₹309.50.
Shares of NTPC surged 1.86% to ₹380.45.
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