5% Dividend By Miniratna PSU Stock: 12th August Record Date; Buy NHPC On Reversal?

NHPC Limited, one of India's largest hydropower-producing companies, is a Mini-Ratna public sector undertaking. It is in charge of supplying power to several Distribution Companies (DISCOMs). In addition, NHPC offers clients in the public and private sectors throughout national and worldwide regions consultancy services on design and engineering, geotechnical investigation, construction, operations, maintenance, renovation, and updating of hydropower projects.

As of March 31, 2024, NHPC has an investment base of Rs 78802.59 crore, an authorised share capital of Rs 15,000 crore, and a paid-up share capital of Rs 10,045.03 crore. Including 1593 MW in joint venture, NHPC's total installed capacity as of March 31, 2024, was 7144.20 MW. This includes 6971.20 MW from 22 hydropower stations, 123 MW from three solar power projects, and 50 MW from a wind power project. With 6971.20 MW, NHPC accounts for 14.85% of the nation's 46928.17 MW installed hydro capacity.

NHPC Dividend Record Date

"The Company has fixed Monday, August 12, 2024 as "Record Date" for determining entitlement of members to receive final dividend [as recommended by the Board of Directors @ 5.00% (Re.0.50 per equity share) on the paid-up equity share capital of the Company] for the financial year 2023-24, if declared at the AGM. The members, whose name appear in the Register of Members/ List of Beneficial Owners as on the record date will be entitled to receive final dividend. The final dividend, if declared at the AGM, will be paid as per the provisions of the Act. The Register of Members and Share Transfer Books of the Company will remain closed from Tuesday, August 13, 2024 to Wednesday, August 28, 2024 (both days inclusive) for the purpose of 48th AGM of the Company," said NHPC in a stock exchange filing.

NHPC Latest News

"It is to inform that the Board in its meeting scheduled to be held on Wednesday, 07th August, 2024 may inter-alia consider the proposal regarding monetization of future cash flow (Return on Equity) of one or more Power Station(s) of the Company for suitable tenure as part of the funding plan of CAPEX of the company for the current financial year 2024-25," NHPC has informed stock exchanges.

NHPC Share Price Target

Hardik Matalia - Derivative Analyst at Choice Broking said, "NHPC is currently trading around 98 levels and is experiencing a period of sideways movement. The stock has faced rejection from higher levels. If NHPC falls below the 96 level, it could decline further towards the support zone near 86 levels which is close to its long-term (200-day) EMA levels. Investors should consider entering new long positions if the stock shows signs of a reversal near the support levels. Additionally, a breakout above the barrier level of 105 could signal a buying opportunity with potential targets of around 120-130 levels."

"The Relative Strength Index (RSI) stands at 38.52 levels, indicating sideways view. However, NHPC is currently trading below short-term (20-day) EMA and medium-term (50-day) EMA levels, which indicates selling pressure on higher levels. Based on this analysis, a recommendation would be to buy NHPC on reversal near the support zones or at the breakout of the higher level for a target of 120-130 levels," the analyst further recommended.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.