NTPC Ltd, India's largest power generator, has notified that it has integrated a new joint venture firm christened `National High-Power Test Laboratory Pvt. Ltd (NHPTLPL)' for setting up an on-line high-power test laboratory for short-circuit test facility in the country.

The new JV firm has been setup in association with NHPC, Power Grid Corp of India and Damodar Valley Corp (DVC).

Under the arrangement, all the four firms (NTPC, NHPC, Power Grid and DVC) shall equally contribute in the equity share capital of the company (NHPTLPL).

It should be noted that last week, NTPC had announced the incorporation of International Coal Ventures Pvt. Ltd (ICVL), a joint venture firm in association with, SAIL, Coal India, Rashtriya Ispat Nigam and NMDC.

The JV has been setup for the purpose of carrying on business for overseas acquisition and/or operation of coal mines or blocks/ companies for securing coking and thermal coal supplies.

Kotak Securities, a well known brokerage firm, has maintained its `Reduce' rating on NTPC and has raised target price to Rs 190.

The company stated in a release that it expects NTPC's earnings growth to remain moderate in FY10 and its capacity addition is likely to remain a concern.

Shares of NTPC closed at Rs 212.75, down 1.66 per cent on the BSE.