National Thermal Power Corporation Ltd (NTPC) has signed a Joint Venture agreement with five large state-run companies. The list includes Steel Authority of India Ltd (SAIL), Rashtriya Ispat Nigam Ltd (RINL), Coal India Ltd (CIL) and National Mineral Development Corporation Ltd (NMDC).

The proposed JV will form, promote and incorporate a Special Purpose Vehicle (SPV), namely, International Coal Ventures Pvt. Ltd. for securing metallurgical coal and thermal coal assets abroad and to leverage their domain knowledge and human capital for international mining business development.

The NTPC stock closed the day at Rs 171.40, up by Rs.3.25 or 1.93%. The stock hit an intraday high of Rs 175 and low of Rs 166