PSU Power Sector Stock Under Rs 50 Inks MoU With Maharashtra Govt, Shares Jump

Large cap public sector undertaking (PSU) operating in Power sector, NHPC Ltd on Tuesday has inked an MoU with Maharashtra government for establishment of energy storage systems. NHPC share witnessed a jump of 1.37% till afternoon trade to Rs 44.48 apiece. Earlier, NHPC declared a jump of 39% in its consolidated net profit at Rs 719.18 crore, up 39% for the March quarter 2022-2023 as against Rs 515.90 crore declared in corresponding quarter of last year. It also announced a dividend of 4.5%. Check details below:

NHPC Inks MoU With Maharashtra Govt: According to the BSE filing of the company, "In compliance to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is informed that NHPC Limited has entered into a Memorandum of Understanding (MoU) with Department of Energy, Government of Maharashtra for establishment of Energy Storage Systems (Pumped Storage Systems) alongwith Other Renewable Energy Source (like Solar/ Wind/ Hybrid etc.) with a total capacity of 7,350 MW."

NHPC Stock Performance & Return: Current market price of NHPC Ltd is Rs 44.45 per share with intraday rally of 1.37% on BSE. Its 52-week high price is Rs 47.88 per share and 52-week low price is Rs 28.85 per share, respectively. It has a market capitalisation of Rs 44,680.31 crore. It has a dividend yield of 4.14%. NHPC shares gave return of 34% in last 1-year, 70% in last 2-years, and 120% in last 3-years.

NHPC Dividend & Q4 Results: Board of directors of NHPC recommended a final dividend of Re 0.45 per equity share for the FY 2022-23 subject to approval of shareholders in the ensuing Annual General Meeting. This is in addition to the interim dividend of Rs 1.40/- per equity share for the FY 2022-23 paid in March, 2023. The company's total income rallied to Rs 2,228.68 crore from Rs 2,026.62 crore in the year-ago quarter.

NHPC About: NHPC Limited is the largest hydropower development organization in India, with capabilities to undertake all the activities from conceptualization to commissioning of hydro projects. NHPC has also diversified in the field of Solar & Wind energy develepment etc, according to its official website.