NHPC shares surge 9% in early trade, log high turnover; check details

Shares of hydropower producer NHPC Ltd surged 9% in early trade today. The state-owned firm also logged a high turnover of Rs 129.67 crore with 139.47 lakh shares changing hands on BSE. NHPC stock zoomed 8.93% to Rs 96.50 against the previous close of Rs 88.55. Market cap of the firm climbed to Rs 95,056 crore. The stock touched its record high of Rs 115.85 on February 5 this year. Despite today’s rally, the stock is down 16.69% from its record high.

In terms of technicals, the relative strength index (RSI) of the stock stands at 54.1, signaling it's trading neither in the overbought nor in the oversold zone.

It has a one-year beta of 0.7, signaling low volatility during the period.

NHPC shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

The stock has gained 133 per cent in one year and risen 43.20 per cent in 2024.

The green energy stock has a PE ratio of 23.93 against an industry PE of 21.06. The price to book ratio of NHPC is 2.28. Debt to equity ratio of the firm is 0.77.

In the third quarter of this fiscal, NHPC reported a 26.77 per cent fall in its consolidated net profit to Rs 491.90 crore as against Rs 671.67 crore in the corresponding period last fiscal.

Revenue from operations slipped 20.42 per cent in the December 2023 quarter compared to Rs 2,055.50 crore in the year-ago period.

NHPC also announced an interim dividend of Rs 1.4 a share for the financial year 2023-24.

In the previous session, the NHPC stock ended 4.31% higher at Rs 89.50 on BSE.

NHPC Limited is engaged in the generation and sale of bulk power to various power utilities. The company’s other business activities include project management / construction contracts/ consultancy assignment services and trading of power. The company’s power stations include Salal, Dulhasti, Kishanganga, Nimoo Bazgo, Chutak, Baira Siul, Tanakpur, Dhauliganga, Rangit, Loktak, Indira Saga, Chamera - I, Uri - I, Chamera - II and Omkareshwa.

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