December 9, 2024
NHPC Ltd., India's leading hydropower company, is set to approve a revised borrowing plan to raise up to ₹2,600 crore. The company's board is scheduled to meet on December 12, 2024, to discuss this initiative. The funds will be raised through the issuance of unsecured, redeemable, taxable, non-convertible, non-cumulative bonds via private placement.
This strategic move aims to bolster NHPC's financial position, supporting its ongoing and upcoming projects. The company has been actively expanding its renewable energy portfolio, with significant investments in hydroelectric and other renewable energy projects.
In recent developments, NHPC's share price has experienced fluctuations. On December 9, 2024, the stock closed at ₹86.76 on the Bombay Stock Exchange, marking a 2.29% increase from the previous day. Despite this uptick, the share price remains approximately 27% below its 52-week high of ₹118.45, reached on July 15, 2024.
Analysts have mixed views on NHPC's future performance. CLSA has upgraded the stock to an 'Outperform' rating, setting a target price of ₹120, citing a strong growth outlook in green energy projects and an anticipated increase in the company's market share in the hydropower sector. Conversely, JM Financial maintains a 'Buy' rating with a target price of ₹108, emphasizing NHPC's steady expansion in the hydropower segment.
Investors should monitor NHPC's financial health and strategic initiatives closely, as the company continues to navigate the evolving energy landscape and implement its growth strategies.
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