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NHPC shares hit new 52-week high; gain up to 17% in a month. Here's why
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NHPC shares hit new 52-week high; gain up to 17% in a month. Here's why
Apr 27, 2023 4:25 AM

Shares of NHPC Limited touched new 52-week high of Rs 47.88 apiece in Thursday's trade. The stock was trading 3.16 percent higher at Rs 45.70 per share. NHPC's market capitalisation stood at Rs 48095.6 crore on BSE. Its share price has jumped 17 percent in a month and nearly 14 percent on a year-to-date basis.

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The stock rally comes after the Miniratna PSU said that a meeting of its board of directors is scheduled to be held on May 29, 2023 to consider quarterly results of the January to March quarter.

NHPC also said that the board will also consider recommending final dividend, if any, on equity share capital of the company for 2022-23 financial year.

"It is to inform that a meeting of Board of Directors of the Company is scheduled to be held on Monday, 29th May, 2023 to inter-alia consider audited Financial Results (Standalone and Consolidated) of the Company for the quarter and year ended on 31st March, 2023. The Board of Directors in the aforesaid meeting may also consider to recommend final dividend, if any, on equity share capital of the Company for the financial year 2022-23," it said in a filing.

Further, the company said that the ‘trading window’ for dealing in the securities of the company by designated persons was closed from Friday, March 31, 2023 and will remain closed upto 48 hours after the date of declaration of the financial results i.e. upto Wednesday, May 31, 2023 (both days inclusive).

Speaking to CNBC-TV18 earlier in March, NHPC Chairman and Managing Director (CMD) Rajeev Kumar Vishnoi said, "Power demand has been rising consistently for the last 17-18 months. Demand in some months is also rising at a rate of 10 percent."

Vishnoi said that he expects a surge in demand this year as well. "Government ensuring enough preparation to meet peak demand," he added.

First Published:Apr 27, 2023 1:25 PM IST

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