NHPC slides as J&K plant shut down for maintenance

NHPC fell 2.54% to Rs 19.15 at 14:04 IST on BSE after the company said its Sewa-II power station in Jammu & Kashmir has been completely shut down for maintenance purpose.

The announcement was made during trading hours today, 8 December 2015.

Meanwhile, the BSE Sensex was down 128.98 points, or 0.51%, to 25,401.13.

On BSE, so far 3.50 lakh shares were traded in the counter, compared with an average volume of 5.47 lakh shares in the past one quarter.

The stock hit a high of Rs 19.60 and a low of Rs 19.10 so far during the day. The stock hit a 52-week high of Rs 21.75 on 28 February 2015. 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 7 December 2015, rising 11.65% compared with 2.80% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 22.81% as against Sensex's 2.56% rise.

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

NHPC announced that its 120 megawatts (MW) Sewa-II power generation unit in Jammu & Kashmir (J&K) has been completely shut down for attending annual maintenance of machines for about 20 days with effect from 7 December 2015.

NHPC's net profit surged 72.6% to Rs 1180.87 crore on 11.9% rise in net sales to Rs 2334.24 crore in Q2 September 2015 over Q2 September 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 30 September 2015.

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