NHPC lists 5 per cent premium to issue price
Government owned NHPC listed at Rs 38 or 5 per cent against its IPO price of Rs 36.
By ET Bureau |
MUMBAI: Government owned NHPC listed at Rs 38 or 5 per cent against its IPO price of Rs 36. (Watch)
The company had gone publie with 168 crore shares of face value Rs 10 each and managed to raise above Rs 6,000 crore for its hydro power projects.
At 9:55 am, the stock was at Rs 38.50 up Rs 2.50 or 6.94 per cent. The scrip touched a high of Rs 42 and low of Rs 37 in early trade. Around 1.28 crore shares were traded in opening trade.
���It is a long term investment call and once the stock is likely to take support at Rs 40 levels,��� said Anita Gandhi, head institutional sales, Arihant Capital Market.
NHPC is the largest hydroelectric generator in the country with 13 stations operating and an installed capacity of 5,175MW. It accounts for 14 per cent of the country���s hydro capacity. The company plans to nearly double its standalone capacity to 9,797MW by FY16.
It is in the process of adding 4,622MW of fresh capacity, through 11 projects. In addition, it is awaiting government sanction for five projects with an anticipated capacity of 4,565MW and 2,166MW through joint ventures
The proceeds will be used to part finance the construction and development costs of certain of projects, namely, Subansiri Lower, Uri ��� II, Chamera - III, Parbati ��� III, Nimoo Bazgo, Chutak, and Teesta Low Dam - IV.
The company had gone publie with 168 crore shares of face value Rs 10 each and managed to raise above Rs 6,000 crore for its hydro power projects.
At 9:55 am, the stock was at Rs 38.50 up Rs 2.50 or 6.94 per cent. The scrip touched a high of Rs 42 and low of Rs 37 in early trade. Around 1.28 crore shares were traded in opening trade.
���It is a long term investment call and once the stock is likely to take support at Rs 40 levels,��� said Anita Gandhi, head institutional sales, Arihant Capital Market.
NHPC is the largest hydroelectric generator in the country with 13 stations operating and an installed capacity of 5,175MW. It accounts for 14 per cent of the country���s hydro capacity. The company plans to nearly double its standalone capacity to 9,797MW by FY16.
It is in the process of adding 4,622MW of fresh capacity, through 11 projects. In addition, it is awaiting government sanction for five projects with an anticipated capacity of 4,565MW and 2,166MW through joint ventures
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The proceeds will be used to part finance the construction and development costs of certain of projects, namely, Subansiri Lower, Uri ��� II, Chamera - III, Parbati ��� III, Nimoo Bazgo, Chutak, and Teesta Low Dam - IV.
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