NHPC gains after declaring commercial operation of unit 1 of Teesta power project

NHPC rose 0.72% to Rs 20.95 at 10:35 IST on BSE after the company declared commercial operation of unit 1 of 160 megawatts Teesta Low Dam HE Project, stage-IV in West Bengal from 3 March 2016.

The announcement was made after market hours yesterday, 2 March 2016.

Meanwhile, the BSE Sensex was up 209.83 points, or 0.92%, to 24,465.18.

On BSE, so far 68,835 shares were traded in the counter, compared with an average volume of 5.15 lakh shares in the past two weeks. The stock hit a high of Rs 21.20 and a low of Rs 20.90 so far during the day. The stock hit a 52-week high of Rs 22.35 on 6 January 2016. 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 2 March 2016, rising 0.48% compared with 1.21% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 2.72% as against Sensex's 7.18% fall.

NHPC's net profit surged 115.8% to Rs 388.02 crore on 23.5% rise in net sales to Rs 1440.90 crore in Q3 December 2015 over Q3 December 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 31 December 2015.

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