NHPC Ltd to form subsidiary

The Board of Directors of NHPC Ltd in its meeting held today i.e. Friday, September 24, 2021 has considered and approved the proposal regarding formation of a Wholly Owned Subsidiary Company by NHPC Limited which will act as an investment vehicle and company for commissioned hydropower projects for facilitating the monetization of investment made, subject to approval of Government of India.

The Board has also accorded its investment approval to contribute initial equity of Rs 5 Crore by NHPC Limited in the proposed Subsidiary Company.

Shares of NHPC Limited was last trading in BSE at Rs. 27.7 as compared to the previous close of Rs. 27.3. The total number of shares traded during the day was 504019 in over 1520 trades.

The stock hit an intraday high of Rs. 28.1 and intraday low of 27.25. The net turnover during the day was Rs. 13966807.

Source : Equity Bulls

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