Board of NHPC to consider borrowing funds next week

Indian hydropower generation company, NHPC Ltd, informed that it is planning to borrow Rs 2,000 crore by way of raising debt.

In an exchange filing made on May 1, National Hydroelectric Power Corporation (NHPC) said that a board meeting has been scheduled on May 6, 2020 to consider and approve the proposal of borrowing Rs 2,000 crore for the purpose of raising debt.

Besides, in another development, as part of corporate social responsibility (CSR), NHPC Uri power station has paid Rs 8.32 crore to Baramulla administration for purchasing medical equipments like ventilators, etc to help combat COVID-19 in Kashmir.

Incorporated in the year 1975, NHPC Ltd is a ‘mini-ratna’ company of Government of India (GOI). The company was started with an objective to promote hydroelectric power in all aspects and later on, the company included other sources of energy like solar, geothermal, tidal, wind, etc.

The stock market was closed on Friday to commemorate International Workers’ Day. At the time of market closing on Thursday, the stock of NHPC Ltd was trading at Rs 20.90, down by 1.18 per cent against its previous close of Rs 21.15. Its 52-week high is Rs 29.00 while, its 52-week low is Rs 15.15 on BSE.