NHPC slips ex-dividend

NHPC fell 1.07% to Rs 27.85 at 10:38 IST on BSE after the stock turned ex-dividend today, 19 January 2017 for an interim dividend of Rs 1.70 per share for the year ending 31 March 2017.

Meanwhile, the S&P BSE Sensex was up 28.66 points, or 0.11%, to 27,286.30

On the BSE, 3.55 lakh shares were traded in the counter so far, compared with an average volume of 9.51 lakh shares in the past one quarter. The stock hit a high of Rs 28.15 and a low of Rs 27.75 so far during the day.

The stock hit a 52-week high of Rs 30.60 on 12 January 2017. The stock hit a 52-week low of Rs 18.60 on 20 January 2016. The stock had outperformed the market over the past 30 days till 18 January 2017, rising 10.76% compared with the 3.61% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 16.37% as against Sensex's 3.10% decline.

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

Before turning ex-dividend, the stock offered a dividend yield of 6.03% based on the closing price of Rs 28.15 yesterday, 18 January 2017.

On 12 January 2017, NHPC's board of directors had approved interim dividend of Rs 1.70 per share for the year ending 31 March 2017.

Meanwhile, NHPC announced that TLDP-III (4 X 33) 132 megawatts (MW) power station in West Bengal has been completely restored on 18 January 2017 which was under complete shutdown for restoration work of GIS (Line-I Bay). The announcement was made after market hours yesterday, 18 January 2017.

NHPC's net profit rose 27.89% to Rs 1554.66 crore on 19.44% growth in total income to Rs 3389.67 crore in Q2 September 2016 over Q2 September 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 74.51% stake in NHPC (as per the shareholding pattern as on 31 December 2016).

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