NHPC share price gains on Rs 4,000 crore deal with GPCL for Gujarat project

The share touched a 52-week high of Rs 68.71 and a 52-week low of Rs 37.80 on January 2, 2024, and February 27, 2023, respectively.

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NHPC share price gained in the early trade on January 4 after the company signed a MoU with GPCL for the proposed investment of Rs 4,000 crore.

“….. has signed a MoU with GPCL (Gujarat Power Corporation Limited) for proposed investment of Rs 4,000 crore in Kuppa Pumped Storage Project (750 MW), Chhota Udaipur, Gujarat with proposed year for commencement of investment as 2024-25,” NHPC said.

At 09:20 am, NHPC was quoting at Rs 68.02, up Rs 0.52, or 0.77 percent, on the BSE.

In December, Sembcorp Industries’ subsidiary Green Infra Wind Energy Ltd (GIWEL) bagged a 300 MW solar project from NHPC.

Also, the company board in a meeting held on December 22 had considered and approved the proposal for monetization of future cash flow (consisting Return on Equity) in respect of Kishanganga Power Station or any other Power Station(s) of the company for 8/10 years in single tranche during financial year 2023-24 or beyond.

The company had reported a net profit of Rs 1,545.85 crore in the quarter ended September 2023.

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The share touched a 52-week high of Rs 68.71 and a 52-week low of Rs 37.80 on January 2, 2024, and February 27, 2023, respectively.

Currently, the stock is trading 1 percent below its 52-week high and 79.95 percent above its 52-week low.

The share price gained 74 percent in the last one year.