NHPC is trading higher by 2.2% at Rs 18.20 after the company’s share buyback program of 1,230 million shares at a price of Rs 19.25 per share on a proportionate basis through the Tender Offer Process begins today.
The closing price of the company share on Thursday was Rs 17.80 and therefore investors can take advantage of the difference between the buyback price and the closing price to tender their shares, analyst at Angel Broking said in a note.
The stock opened at Rs 17.85 and hit a high of Rs 18.25 on the NSE. A combined 607,986 shares have changed hands on the counter till 0945 hours on the NSE and BSE.
The stock opened at Rs 17.85 and hit a high of Rs 18.25 on the NSE. A combined 607,986 shares have changed hands on the counter till 0945 hours on the NSE and BSE.
