NHPC declines after two units of Chutak power station shut down

NHPC fell 0.27% to Rs 18.25 at 12:11 IST on BSE after the company said that unit 2 and 3 of Chutak power station shut down due to technical reasons since late last month.

The announcement was made on Thursday, 12 November 2015.

Meanwhile, the BSE Sensex was down 263.80 points, or 1.02%, to 25,603.15.

On BSE, so far 1.39 lakh shares were traded in the counter, compared with an average volume of 5.62 lakh shares in the past one quarter.

The stock hit a high of Rs 18.35 and a low of Rs 18.15 so far during the day. The stock hit a 52-week high of Rs 22.30 on 1 December 2014. The stock hit a 52-week low of Rs 15.55 on 25 August 2015.

The stock had outperformed the market over the past one month till 11 November 2015, rising 7.02% compared with 4.48% decline in the Sensex. The scrip had also outperformed the market in past one quarter, falling 1.08% as against Sensex's 7.17% decline.

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

NHPC said that unit No 2 and 3 of Chutak power station completely shut down due to certain technical reasons from 25 October 2015 and 31 October 2015, respectively.

Chutak power station is located in Jammu & Kashmir.

NHPC's net profit surged 72.6% to Rs 1180.87 crore on 11.9% rise in net sales to Rs 2334.24 crore in Q2 September 2015 over Q2 September 2014.

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.

As per the shareholding pattern, the government of India holds 85.96% stake in NHPC as at 30 September 2015.

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