NHPC gains after getting environmental clearance for Dibang Multipurpose project

NHPC rose 1.57% to Rs 19.35 at 15:00 IST on BSE after Ministry of Environment, Forest and Climate change has accorded environmental clearance to 2880 megawatts Dibang Multipurpose project.

The company made announcement during market hours today, 20 May 2015.

Meanwhile, the S&P BSE Sensex was up 176.16 points or 0.64% at 27,821.69.

On BSE, so far 4.3 lakh shares were traded in the counter as against average daily volume of 6.05 lakh shares in the past one quarter.

The stock hit a high of Rs 19.45 and a low of Rs 18.95 so far during the day. The stock had hit a 52-week high of Rs 29.60 on 11 June 2014. The stock had 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 19 May 2015, falling 7.3% compared with Sensex's 2.8% fall. The scrip had also underperformed the market in past one quarter, dropping 8.85% as against Sensex's 6.17% fall.

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

NHPC said that Ministry of Environment, Forest and Climate change (MOEF&CC) vide its order dated 19 May 2015 has accorded environmental clearance for Dibang Multipurpose project (2880 megawatts (MW)) in Lower Dibang Valley District of Arunachal Pradesh subject to certain conditions stated in the aforesaid order.

NHPC's net profit fell 30.7% to Rs 179.83 crore on 5.1% rise in total income to Rs 1467.56 crore in Q3 December 2014 over Q3 December 2013.

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