NHPC shares witnessed a significant uptick of nearly 5% on the NSE, following Prime Minister Narendra Modi’s inauguration of a 300 MW solar power plant in Rajasthan, being established by NHPC. As of 10.22 am, the stock was trading at ₹97.40 reflecting investor optimism surrounding the renewable energy project.
In a regulatory filing dated February 16, NHPC announced that the Prime Minister had laid the foundation stone for the 300 MW solar power plant in Bikaner, Rajasthan. The project, undertaken by NHPC under the Government of India’s CPSU Scheme, Phase-II, Tranche-III, involves a total investment exceeding ₹1,732 Crore. It is slated for commissioning by September 2024.
Despite the positive market sentiment stemming from this development, NHPC’s financial performance for Q3FY24 recorded a 19% decline in consolidated net profit, amounting to ₹628.44 Crore compared to ₹775.99 Crore in the previous fiscal. Total income for the same period also experienced a decrease, dropping to ₹2,549.69 Crore in Q3FY24 from ₹2,691.34 Crore a year ago.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
Download The App Now
Follow us on
2024, IIFL Securities Ltd. All Rights Reserved
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.
