NHPC inks MoU with BEL

NHPC said that it has signed a Memorandum of Understanding (MoU) with Bharat Electronics (BEL) for setting up of giga watt scale vertically integrated solar manufacturing unit.

On the BSE, 12.45 lakh shares were traded in the counter so far compared with average daily volumes of 6.75 lakh shares in the past two weeks. The stock hit a high of Rs 34.6 and a low of Rs 33.6 so far during the day.

The stock had underperformed the market over the past one month, up 3.3% compared with 5.49% rise in the Sensex.

The scrip had also underperformed the market in past three months, up 4.78% as against Sensex's 8.36% rise.

However, the scrip had outperformed the market in past one year, up 29.52% as against Sensex's 5.89% rise.

NHPC is the largest organization for hydropower development in India. It has also diversified in the field of solar & wind power. As of 30 June 2022, the Government of India held 70.95% stake in the company.

The company's consolidated net profit jumped 14.5% to Rs 1,039.31 crore on a 15.2% surge in revenue from operations to Rs 2,785.14 crore in Q1 FY23 over Q1 FY22.

Shares of NHPC were up 0.59% to Rs 34 on the BSE.

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