NHPC Share Price likely to fall by Rs 76, keep an eye after Rs 92.40
NHPC Ltd., a leading power generation company in India, has seen its share price surge in recent trading sessions, closing at ₹95.08 on the National Stock Exchange (NSE) today. The stock has been on an upward trajectory, with analysts remaining bullish on the company’s growth prospects.
Main Points
NHPC’s strong financial performance has been a key driver of its share price appreciation. The company reported a profit of ₹1,023.51 crore on a total income of ₹2,844.82 crore for the quarter ended June 2024. For the year ended June 2024, NHPC posted a profit of ₹1,108.46 crore on a total income of ₹3,125.45 crore.
Analysts Remain Bullish on NHPC
Analysts remain bullish on NHPC’s growth prospects, citing the company’s strong financial performance and growth potential in the renewable energy sector. The company’s market capitalization currently stands at ₹95,478 crore, indicating strong investor confidence in its future prospects.
NHPC has been actively pursuing expansion plans, with the company recently signing a Memorandum of Understanding (MoU) with the Water Resources Department of the Government of Maharashtra. The MoU is expected to pave the way for the development of hydropower projects in the state, further strengthening NHPC’s position in the renewable energy sector.
In a significant development, NHPC has been granted Navratna status by the Government of India. This status grants the company greater autonomy and flexibility in decision-making, allowing it to better capitalize on growth opportunities in the power sector.
NHPC Peer Comparison
NHPC’s top five peers in the Infrastructure sector are Tata Power Co., JSW Energy, Adani Energy Sol, NHPC Ltd, and Torrent Power. The company’s strong performance has allowed it to outperform several of its peers in recent trading sessions.
NHPC Dividend Yield
NHPC’s current dividend yield stands at 1.9989%, providing investors with a steady stream of income in addition to capital appreciation. The company’s strong financial performance and growth prospects make it an attractive investment option for long-term investors.
NHPC’s stock has been trading above its 200-day moving average, indicating a positive trend. The stock has also broken out of a base in its weekly chart, although it has failed to maintain its momentum in recent sessions. Analysts remain optimistic about the stock’s future performance, citing its strong fundamentals and growth potential.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
