NSENHPC Ltd is under focus on Friday as its shares gained 4.3% in the session, recording an intraday high of ₹102.85 per piece on the BSE after the company signed an agreement for a solar project worth ₹846 crore in Gujarat.
The public sector enterprise entered into a Power Purchase Agreement (PPA) with the state electricity regulation board in Gujarat—Gujarat Urja Vikas Nigam Limited (GUVNL)—on June 27.As per the details of the PPA, NHPC will be working on a solar power project having a capacity of 200 MW, within the Gujarat State Electricity Corporation Limited’s (GSECL) RE Park located in Khavda village of Kutch district.Gujarat State Electricity Corporation Ltd is a wholly owned subsidiary of the Gujarat Urja Vikas Nigam, which focuses on power generation in the state.The state-owned hydropower company has informed the stock exchanges that the estimated financial consideration for the solar power project stands at approximately ₹846.66 crore.The project is scheduled to be completed within a period of 15 months, taken from the execution date of the Power Purchase Agreement.NHPC shares were seen trading 2.7% higher at ₹101.2 per piece on the stock exchange in the afternoon session at 1:45 pm.The public sector company’s shares have risen strongly 57% so far in the calendar year and are up by a stellar 123% over the last one-year period.For the quarter ended on March 31, 2024, NHPC reported a decline of 18% year-on-year (YoY) in its net profit at ₹610.93 crore from ₹745.27 crore in the same period last year.Its revenue from operations dropped almost 7% YoY to ₹1,888.14 crore in the final quarter of FY24 as compared to ₹2028.77 crore in the corresponding quarter of the previous fiscal year.
NSE
NHPC Ltd is under focus on Friday as its shares gained 4.3% in the session, recording an intraday high of ₹102.85 per piece on the BSE after the company signed an agreement for a solar project worth ₹846 crore in Gujarat. The public sector enterprise entered into a Power Purchase Agreement (PPA) with the state electricity regulation board in Gujarat—Gujarat Urja Vikas Nigam Limited (GUVNL)—on June 27.As per the details of the PPA, NHPC will be working on a solar power project having a capacity of 200 MW, within the Gujarat State Electricity Corporation Limited’s (GSECL) RE Park located in Khavda village of Kutch district.Gujarat State Electricity Corporation Ltd is a wholly owned subsidiary of the Gujarat Urja Vikas Nigam, which focuses on power generation in the state.The state-owned hydropower company has informed the stock exchanges that the estimated financial consideration for the solar power project stands at approximately ₹846.66 crore.The project is scheduled to be completed within a period of 15 months, taken from the execution date of the Power Purchase Agreement.NHPC shares were seen trading 2.7% higher at ₹101.2 per piece on the stock exchange in the afternoon session at 1:45 pm.The public sector company’s shares have risen strongly 57% so far in the calendar year and are up by a stellar 123% over the last one-year period.For the quarter ended on March 31, 2024, NHPC reported a decline of 18% year-on-year (YoY) in its net profit at ₹610.93 crore from ₹745.27 crore in the same period last year.Its revenue from operations dropped almost 7% YoY to ₹1,888.14 crore in the final quarter of FY24 as compared to ₹2028.77 crore in the corresponding quarter of the previous fiscal year.
