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NHPC gains after board approves monetization of asset

Capital Market 

NHPC rose 1.79% to Rs 34.15 after the board on, Tuesday, 7 December 2021, approved the proposal for monetization by securitization through bidding process of Return on Equity (RoE) of Chamera-1 Power Station (3 X 180 MW), Himachal Pradesh.

The state-run firm will also "monetize the RoE of one or more power stations for 05/10/15 years in one go or roll over."

The board of NHPC, on 2 December 2021, had decided to consider the proposal regarding the monetization of Return on Equity (RoE) of One Power Station of the company through securitization for suitable tenure.

NHPC's consolidated net profit grew 6.6% to Rs 1,386.81 crore on a 1.4% increase in net sales to Rs 2,940.63 crore in Q2 September 2021 over Q2 September 2020.

NHPC is the largest organization for hydropower development in India. It has also diversified in the field of solar & wind power. As of 30 September 2021, the Government of India held 70.95% stake in the company.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, December 08 2021. 09:35 IST