The largest power generation PSU, National Thermal Power Corporation Ltd (NTPC) has announced that the corporation has inked a MOU with Bharat Forge Ltd.

The motive of this MOU is to promote a Joint Venture Company to make power plant components.

As per the agreement, the shareholding pattern of the new company will allow NTPC to hold 49 percent stake and Bharat Forge will hold a majority stake of 51 percent.

NTPC further informed that the limited review of the un-audited financial results for the quarter ended December 31, 2007 has been conducted by the auditors.  

The National Thermal Power Corporation stock was quoting at Rs 203, low by 1.48% on NSE. Stock markets ended weak today as the market sentiment was weak. After Wockhardt Hospitals, Real estate giant Emaar MGF announced withdrawal of its initial public offer due to low interest from retail investors.