NHPC scrip breaches par today after four years

ShareSansar, February 6:

The scrip of the National Hydropower Company Limited (NHPC) has breached the par after a hiatus of four years today.

Though the exact reason behind the surge is yet to be ascertained, the scrip is witnessing huge transactions over the last few days, especially today with around 30, 000 unit shares already traded within the first 30 minutes of trading.

There were buyers for more than lakh units at the trading floor for the day.

It may, however, be noted that all the traded scrips are being traded through blank transfer (BT) as the company’s share registration and verification processes have been stalled reportedly due to some technical problems of the company with its RTS, NCM Merchant Banking Limited.

NB Group established the National Hydro Power Company (NHPC)  in joint venture with Lyse Kraft AS of Norway in 1996. NHPC has completed a 7.5 MW Indrawati III Hydro Power Project which commenced in 1999.

The scrip’s price, which hovered around Rs 600 at one time, suddenly took a nose dive a few years back, eventually ended up below Rs 50.

The scrip has been recovering in the wake of the current bullish trend in the market.