NHPC shrugs off fire at Uri II power station

NHPC rose 0.49% to Rs 20.50 at 10:00 IST on BSE after the company said that due to some fault in one of the GSU transformer of Unit 2 of Uri II power station, a fire has broken out in the power station on 20 November 2014.

The company made the announcement after market hours yesterday, 20 November 2014.

Meanwhile, the S&P BSE Sensex was up 125.08 points or 0.45% at 28,192.64.

On BSE, so far 1.4 lakh shares were traded in the counter as against average daily volume of 11.31 lakh shares in the past one quarter.

The stock hit a high of Rs 20.55 and a low of Rs 20.30 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 17.35 on 4 February 2014.

The stock had outperformed the market over the past one month till 20 November 2014, rising 6.53% compared with the Sensex's 6.2% rise. The scrip had, however, underperformed the market in past one quarter, falling 8.72% as against Sensex's 6.66% rise.

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

The fire has resulted in a thick blanket of smoke inside the power house. The power station has been immediately shutdown. All the operating staff came out safely, NHPC said. Fire fighting system/fire tenders have been mobilized from Srinagar & Uri I power station, the company added. People are not able to go inside the power house due to heavy smoke. Efforts are being made to control the fire by taking the help of fire department of J&K, NHPC said.

NHPC's net profit fell 3.3% to Rs 684.10 crore on 19.2% rise in total income to Rs 2325.01 crore in Q2 September 2014 over Q2 September 2013.

NHPC, a Govt. of India Enterprise, was incorporated in the year 1975 with an an objective to plan, promote and organise an integrated and efficient development of hydroelectric power.

The Government of India holds 85.96% stake in the firm as at 30 September 2014.

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