NHPC gains on getting nod to form JV with GEDCOL

NHPC is currently trading at Rs. 32.40, up by 0.35 points or 1.09% from its previous closing of Rs. 32.05 on the BSE.

NHPC

The scrip opened at Rs. 32.40 and has touched a high and low of Rs. 32.65 and Rs. 32.25 respectively. So far 195403 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 37.00 on 18-Oct-2021 and a 52 week low of Rs. 20.40 on 19-Nov-2020.

Last one week high and low of the scrip stood at Rs. 33.20 and Rs. 30.85 respectively. The current market cap of the company is Rs. 32646.36 crore.

The promoters holding in the company stood at 70.95%, while Institutions and Non-Institutions held 20.87% and 8.18% respectively.

NHPC’s board has approved the proposal regarding formation of a Joint Venture (JV) Company with Green Energy Development Corporation of Odisha (GEDCOL)) for implementation of 500 MW floating Solar Power Project in various water reservoirs in the State of Odisha. The Board has also accorded its investment approval to contribute initial equity of Rs 7.4 crore by NHPC in the JV Company, to be promoted jointly by NHPC (74%) and GEDCOL (26%). The Board of Directors of Company in its meeting held on November 11, 2021 has inter-alia considered and approved the same.

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