NHPC gains after Parbati-III project begins commercial operation

NHPC rose 0.28% to Rs 17.75 at 12:46 IST on BSE after the company announced commercial operation of unit 1 and 2 of Parbati-III HE project in Himachal Pradesh.

The company made the announcement during trading hours today, 24 March 2014.

Meanwhile, the BSE Sensex was up 255.55 points, or 1.17%, to 22,010.87.

On BSE, so far 1.80 lakh shares were traded in the counter, compared with an average volume of 5.61 lakh shares in the past one quarter.

The stock hit a high of Rs 17.80 and a low of Rs 17.70 so far during the day. The stock hit a 52-week high of Rs 22.35 on 9 April 2013. The stock hit a 52-week low of Rs 14.80 on 7 August 2013.

The stock had underperformed the market over the past one month till 22 March 2014, sliding 1.12% compared with the Sensex's 5.09% rise. The scrip had also underperformed the market in past one quarter, falling 5.35% as against Sensex's 3.20% rise.

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

NHPC announced that consequent upon successful trial run of unit 1 and unit 2 of Parbati-III HE project (4 X 130 megawatts), the project is declared under commercial operation with effect from 00:00 IST on 24 March 2014.

Net profit of NHPC declined 16.81% to Rs 259.35 crore on 23.24% rise in net sales to Rs 1123.38 crore in Q3 December 2013 over Q3 December 2012.

NHPC is a state-run hydro-power utility. The Government of India (GoI) holds 85.96% stake in NHPC (as per the shareholding pattern as on 31 December 2013).

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