Continuing its stock rally for the second straight day, NHPC shares were trading in green in the morning trade on Thursday. At 10:53, the company stock was up by 2.98% at 45.66 on BSE on Thursday. Moreover, shares hit another 52-week high of ₹47.88 apiece.
Click here to get all market related updates
At the time when company stock was at its 52-week high mark, NHPC's market capitalisation stood at ₹48095.6 crore on BSE. Its share value has reduced by -1.32 per cent YTD. However, its value has grown by 6.23 per cent in one year.
The two-day stock rally has come after the Miniratna PSU, announced the date of its next board of directors meeting. The company will conduct its board of directors meeting on May 29, 2023 to consider quarterly results of the March quarter. NHPC also mentioned that the board will also consider recommending final dividend, if any, on equity share capital of the company for FY23.
“In compliance with Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is to inform that a meeting of Board of Directors of the Company is scheduled to be held on Monday, 29th May, 2023 to inter-alia consider Audited Financial Results (Standalone and Consolidated) of the Company for the quarter and year ended on 31st March, 2023,.The Board of Directors in the aforesaid meeting may also consider to recommend final dividend, if any, one quity share capital of the Company for the financial year 2022-23,” said the company in its stock filing.
In the December quarter, the state-owned hydropower giant reported a 13 per cent YoY drop in its consolidated net profit to ₹776 crore, against ₹888 crore in the same quarter a year ago. Its total income jumped by 20 per cent YoY to ₹2582 crore. The board had also announced the interim dividend at the rate of 14 per cent, ie ₹1.40 per equity share, on the face value of paid-up equity shares of ₹10 each for the financial year 2022-23.
