NHPC moves higher after declaring commercial operations at a power plant unit

NHPC rose 1.1% to Rs 27.60 at 12:32 IST on BSE after the company announced the commencement of commercial operation of a 40 megawatts unit of Teesta Low Dam H.E. Project, Stage IV in West Bengal.

The announcement was made after market hours yesterday, 18 August 2016.

Meanwhile, the S&P BSE Sensex was down 1.79 points or 0.01% at 28,121.65.

On BSE, so far 3.51 lakh shares were traded in the counter as against average daily volume of 7.71 lakh shares in the past one quarter. The stock hit a high of Rs 27.70 so far during the day, matching with its 52-week high hit yesterday, 18 August 2016. The stock hit a low of Rs 27.30 so far during the day. The stock had 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 18 August 2016, surging 7.91% compared with 1.36% rise in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 25.81% as against Sensex's 9.41% rise.

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

The entire power generated from Teesta Low Dam H.E. Project, Stage IV (TLDP-IV) has been allocated to West Bengal state and the same shall be supplied through West Bengal State Electricity Distribution Company (WBSEDCL), NHPC said.

NHPC's net profit rose 7.5% to Rs 857.82 crore on 9.4% growth in net sales to Rs 2166.04 crore in Q1 June 2016 over Q1 June 2015.

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.

Government of India (GoI) currently holds 74.6% stake in NHPC (as per the shareholding pattern as on 30 June 2016).

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