Shares of NHPC were last trading 0.93 per cent higher at Rs 27.10 on the BSE.Share price of NHPC Limited edged marginally higher on Tuesday, June 15, a day after the government hydropower board signed an agreement with theBihar State Hydro-Electric Power Corporation for a hydro-electric project.
On Tuesday, NHPC opened on the BSE at Rs 27.10, swinging to an intra day high of Rs 27.20, and an intra day low of Rs 26.90, in the trading session so far.
According to a regulatory filing by the company to the stock exchanges, NHPC signed a memorandum of understanding (MoU) with theBihar State Hydroelectric Power Corporation Limited (BSHPCL).According to the statement, the agreement is signed for the implementation of the 130.1 MW Dagmara HE project on the Kosi riverin the Supaul district of Bihar.
NHPC will execute the Dagmara project in Bihar on an ownership basis.
The state government will provide a grant of Rs 700 crorefor the project, as per the capital expenditure requirements, proportionate to the equity infusionby NHPC.Meanwhile, NHPC reported an almost 80 per cent risein net profit on a consolidated basis to Rs 464 crore in the March quarter of the financial year2020-21.
The company's net profit stood at Rs 258.83 crore in the corresponding quarter of the previous fiscal.On the NSE, NHPC opened at Rs 27.05, registering an intra day high of Rs 27.20 and an intra day low of Rs 26.95, in the session so far.
It was last trading 0.93 per cent at Rs 27.10 on the NSE.Shares of NHPC were last trading 0.93 per cent higher at Rs 27.10 on the BSE.