NHPC Shares Hit New 52-Week High, Gaining Up to 17% in 1 Month

Shares of NHPC continued to rise in early trading Thursday, rising as much as 3%.

Shares of NHPC Limited touched a fresh 52-week high of Rs 47.88 per share in Thursday’s trade. The stock was up 3.16% at Rs 45.70 per share. NHPC has a market capitalisation of Rs 48,095.6 crore on the BSE. Its shares are up 17% in a month and nearly 14% so far this year.

Shares rose after Miniratna PSU said its board meeting is scheduled to meet on May 29, 2023, to consider quarterly results for the January-March quarter.

The NHPC also said the board would also consider recommending a final dividend on the company’s share capital for the 2022-23 financial year.

“It is hereby notified that a meeting of the Company’s Board of Directors is scheduled to be held on Monday, May 29, 2023, to consider the company for the period ending March 31, 2023. The Board of Directors at said meeting may also consider recommending a final instalment of the company’s share capital distribution for the financial year 2022-23. dividends, if any,” it said in a filing.

In addition, the company said the “trading window” for designated persons to trade the company’s securities was closed effective Friday, March 31, 2023, and will remain closed for 48 hours after the date of the financial results announcement, which is as of Wednesday, May 31, 2023 (both days inclusive).

NHPC Chairman and Managing Director (CMD) Rajeev Kumar Vishnoi said in an interview with CNBC-TV18 in early March, “The electricity demand has been growing consistently for the past 17-18 months. Demand has also grown at a rate of 10% in some months”.

Vishnoi said he expects a surge in demand this year as well. “The government is ensuring it is well prepared to meet peak demand,” he added.

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