NHPC turns volatile ahead of board meet

NHPC's board will meet today, 30 December 2019, to consider the proposal for raising debt of up to Rs 2000 crore during financial year 2019-20.

The company is planning to raise the debt through issuance of corporate bonds in one or more series/tranches on private placement basis and/or raising of term loans/external commercial borrowings (ECB) in suitable tranches.

Meanwhile, NHPC announced on Saturday, 28 December 2019, that commercial operation at the unit 2 of Bairasiul power station (180 MW) will start from 29 December 2019. The said unit was tested and commissioned after completion of renovation and modernization works.

The NHPC scrip was down 0.21% at Rs 24. It hovered in the range of Rs 23.95 and Rs 24.05 so far during the day.

Currently, the stock is trading 8.57% below its 52-week high of Rs 26.25 hit on 28 December 2018. It is 15.10% above its 52-week low of Rs 20.85 hit on 2 August 2019.

The power generation company's consolidated net profit rose 24.8% to Rs 1286.38 crore on 13.7% increase in net sales to Rs 3068.42 crore in Q2 September 2019 over Q2 September 2018.

NHPC is engaged in electric power generation by hydroelectric power plants. The firm is also engaged in contracts, project management and consultancy works.

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