NHPC firms up after inking PPA with Tata Power - Delhi Distribution

NHPC rose 2% to Rs 30.60 at 10:48 IST on BSE after the company said it signed power purchase agreements with Tata Power - Delhi Distribution.

The announcement was made after maket hours yesterday, 23 March 2017.

Meanwhile, the S&P BSE Sensex was up 137.10 points, or 0.47% to 29,469.26.

On the BSE, 2.20 lakh shares were traded in the counter so far, compared with average daily volumes of 10.26 lakh shares in the past one quarter. The stock had hit a high of Rs 30.70 and a low of Rs 30.20 so far during the day.

The stock hit a 52-week high of Rs 31.75 on 7 February 2017. The stock hit a 52-week low of Rs 20.45 on 4 May 2016.

The stock had underperformed the market over the past one month till 23 March 2017, falling 0.99% compared with 1.62% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 14.50% as against Sensex's 12.64% rise.

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

NHPC said it signed power purchase agreements with Tata Power- Delhi Distribution on 22 March 2017 for seven power stations, namely Bairasiul, Salal, Tanakpur, Chamera-I, Uri-I, Sewa-II and Chamera-III for a period of 35 years from the date of commercial operations (COD) of the respective power stations.

NHPC's net profit rose 25.87% to Rs 214.69 crore on 3.41% fall in net sales to Rs 1298.35 crore in Q3 December 2016 over Q3 December 2015.

NHPC is India's premier hydropower company. Government of India (GoI) currently holds 74.51% stake in NHPC (as per the shareholding pattern as on 31 December 2016).

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