NHPC declines after complete shutdown at Chutak Power Station

NHPC declined 0.77% to Rs 19.45 at 10:30 IST on BSE after the company said that the Chutak Power Station is under complete shutdown consequent upon sudden increase in water level in Unit number 3 and 4 on 28 June 2015.

The company made announcement after market hours yesterday, 29 June 2015.

Meanwhile, the BSE Sensex was up 15.62 points, or 0.06%, to 27,660.77.

On BSE, so far 58,772 shares were traded in the counter, compared with an average volume of 4.95 lakh shares in the past one quarter.

The stock hit a high of Rs 19.60 and a low of Rs 19.35 so far during the day. The stock hit a 52-week high of Rs 28 on 3 July 2014. The stock hit a 52-week low of Rs 17.95 on 17 December 2014.

The stock had underperformed the market over the past one month till 29 June 2015, falling 2.73% compared with 0.66% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 0.51% as against Sensex's 0.68% gain.

The large-cap stock has an equity capital of Rs 11070.67 crore. Face value per share is Rs 10.

NHPC said that the de-watering pumps are in operation and the level of water is decreasing. Chutak power station is located in Jammu & Kashmir.

NHPC reported net profit of Rs 644.51 crore in Q4 March 2015 compared with net loss of Rs 707.40 crore in Q4 March 2014. Total income rose 22.3% to Rs 2175.34 crore in Q4 March 2015 over Q4 March 2014.

As per the shareholding pattern, the government of India holds 85.96% stake in the firm as at 31 March 2015.

NHPC was incorporated in the year 1975 with an objective to plan, promote and organise an integrated and efficient development of hydroelectric power in all aspects. Later on NHPC expanded its objects to include development of power in all its aspects through conventional and non-conventional sources in India and abroad.

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