NHPC shares on Friday rose over 10 per cent for the third consecutive session, surging over 10 per cent following positive brokerage reports on the state-owned hydropower firm.
NHPC shares rose nearly 3 per cent to hit an intraday high of Rs 82.16. This is the third consecutive day the stock is trading in the green. On Thursday, the stock gained 6.94 per cent. Over 2.57 crore shares of the stock were exchanged today, taking the total turnover to Rs 209.35 crore, as per NSE data.
This sharp surge was witnessed after CLSA upgraded the stock from ‘perform’ to ‘outperform’ rating, indicating positive levers for growth.
In an exclusive interview to Moneycontrol, Raj Kumar Chaudhary, chairman and managing director of the public sector undertaking (PSU), told NHPC that it will commission hydropower projects with a total capacity of 2,170 megawatts (MW) by the end of FY26.
In addition, the much-delayed 2,000 MW Subansiri hydropower project in Arunachal Pradesh will also be commissioned in FY26.
Meanwhile, NHPC also provided clarification on the decision to buy co-promoter stake in PTC India. In an exchange filing, it said “It is to inform that the proposal to buy or not to buy co-promoters stake in PTC India Limited is at a very preliminary stage of study and any material development in the matter will be informed to the stock exchanges in due course.”
