President of India acting through Ministry of Power, Government of India sold 35,66,26,218 shares of the multibagger power stock below Rs 90 – do you own it?
The stock gave multibagger returns of 125 per cent in just 1 year whereas BSE Sensex Index was up by 23 per cent in the same period.
Today, the stock market ended the day in green with the BSE Sensex Index up by 0.27 at 72,500 and the NSE Nifty-50 Index up by 0.14 at 21,983. On the broader market, the indices also ended the day in green with the BSE Mid-Cap Index up by 0.84 per cent and the BSE Small-Cap Index up by 0.50 per cent.
Along the market in green, one multibagger power stock ended the day in green, up 0.15 per cent to Rs 88.16 per share from its previous closing of Rs 88.03 with an intraday high of Rs 89.30 and an intraday low of Rs 86.10. The stock’s 52-week high is Rs 115.84 and its 52-week low is Rs 38.70.
The stock name is National Hydroelectric Power Corporation Limited (NHPC Ltd).
NHPC, India's leading hydropower company, generates and sells bulk power. It also manages construction projects, offers consultancy services, and trades power. With a current capacity of 7,097 MW, primarily from hydro sources, NHPC actively develops new projects, including 15 solar and hydro initiatives totalling 10,449 MW. It plans to add 800 MW in FY25 and 2,000 MW in FY26 while venturing into solar with a recently commissioned 380 MW project and plans for an additional 2,000 MW. Aiming to diversify, NHPC has signed MoUs with several states for pumped storage and renewable energy projects and is exploring asset monetization options.
The President of India acting through Ministry of Power, Government of India sold 35,66,26,218 shares.
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Here are the details: On January 23, 2024, the President of India sold 35,15,76,218 shares or a 2.5 per cent stake at Rs 66 per share aggregating to Rs 23,20,40,30,288 via offer for sale (OFS) and on February 22, 2024, the President of India sold an additional 50,50,000 shares 0.05 per cent stake at Rs 71 per share aggregating to Rs 35,85,50,000. After selling the respective number of shares/stakes in the company, The President of India now owns 6,77,01,46,458 or 67.40 per cent stake in the company as of February 29, 2024.
According to the financials, NHPC Ltd has a market cap of Rs 88,557 with a 3-year stock price CAGR of 53 per cent. The company has been maintaining a healthy dividend pay-out of 49.5 per cent with a dividend yield of 2.11 per cent. The stock has a PE of 24x, an ROE of 11 per cent and an ROCE of 8.5 per cent. The company reported positive numbers in its Quarterly Results (Q3FY24), half-yearly results (H1FY24), nine-month results (9MFY24) and annual results (FY23).
The stock gave multibagger returns of 125 per cent in just 1 year whereas BSE Sensex Index was up by 23 per cent in the same period.
Do you own NHPC Ltd.’s stock in your portfolio? Do let us know in the comment below
Disclaimer: The article is for informational purposes only and not investment advice.
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