NHPC, a leading public sector undertaking, has been making waves in the stock market lately. The company’s shares have surged 47% year-to-date, rallying 92% in the last 1 year and offering an attractive return of 269% in the last 3 years.
Main Points
As of the last trading session, NHPC shares were trading at Rs 97.10 on the BSE. The stock has a market capitalization of Rs 97,537.29 crore and offers a dividend yield of 1.96%.
NHPC Stock Forecast 2024
Leading brokerage firm Prabhudas Lilladher has assigned a buy call on NHPC shares with a target price of Rs 117 and a stop loss at Rs 93. Vaishali Parekh from Prabhudas Lilladher said, “the stock after witnessing a decent erosion from the high made near 118 zone has shown signs of bottoming out taking support near 92.50 level with a decent pullback witnessed has improved the bias. Further ahead, a decisive breach above the significant 50 EMA level of 100 shall further strengthen the trend and anticipate for further rise in the coming days.
FII/FPI holdings in NHPC have increased from 6.80% to 8.96% in the June 2024 quarter. The number of FII/FPI investors increased from 319 to 569, and the number of MF schemes increased from 27 to 28 in the same period. Institutional Investors have increased holdings from 19.39% to 20.51% in the June 2024 quarter. Life Insurance Corporation of India (LIC) has a 3.84% stake in NHPC with 385,595,015 shares for the June 2024 quarter.
NHPC Dividend History
NHPC announced 25 dividends since September 7, 2010. In the last 1 year, NHPC declared an equity dividend amounting to Rs 1.90 per share. At the current share price of Rs 97.10, NHPC Ltd offers a dividend yield of 1.96%.
NHPC Financials
NHPC recorded a marginal surge of 1% in its consolidated net profit for the quarter ended June 30, 2024, at Rs 1108.46 crore. Total income for the June 2024 quarter was announced at Rs 3037.92 crore. NHPC also gave nod to monetize future cash flow (return on equity) in respect of Dulhasti Power Station or any other power station(s) of the company for 8/10 years in a single tranche during the financial year 2024-25.
NHPC’s top 5 peers in the Infrastructure sector are Tata Power Co., JSW Energy, Adani Energy Sol, NHPC Ltd, and Torrent Power.
NHPC Stock Technical Analysis
The 52-week high price of NHPC Limited shares on the BSE is Rs 118.45 (as of 15/07/2024), and the 52-week low price is Rs 48.48 (as of 26/10/2023). NHPC shares have offered returns of 317% in the last 5 years
