Shares of NHPC Ltd, a leading hydropower producer, have witnessed an impressive surge of 161% from their 52-week low, marking a significant turnaround in the last year. This multibagger stock, which hit a low of Rs 37.80 on February 27, 2023, has now soared to Rs 98.90 in the current session. As investors and analysts track this remarkable journey, let’s delve into the price targets, technical indicators, valuation, and recent developments.
NHPC Stock Movement Today:
- Surged to a high of Rs 98.90, marking a 6.40% increase from the previous close of Rs 92.95 on BSE.
- The rally followed Prime Minister Narendra Modi laying the foundation stone for a 300 MW solar power plant in Bikaner, Rajasthan on February 16, boosting NHPC’s prospects.
- NHPC stock recorded a high turnover of Rs 219.10 crore on Monday, with 226.42 lakh shares changing hands on BSE.
Analysts’ Take:
- Analysts anticipate a continued bullish trend, expecting the stock to rise up to Rs 135 in the short term.
- Technical indicators and chart patterns suggest potential upside momentum, with targets ranging from Rs 105 to Rs 135.
Stock Technicals:
- RSI stands at 58, indicating a balanced trading position.
- Trading above multiple moving averages, including 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day.
Valuation:
- NHPC has a PE ratio of 26.03, slightly above the industry PE of 24.89.
- Price to book ratio stands at 2.63, reflecting the stock’s valuation.
Q3 Earnings:
- Consolidated net profit declined by 26.77% to Rs 491.90 crore, compared to Rs 671.67 crore in the corresponding period last fiscal.
- Revenue from operations fell 20.42% in the December 2023 quarter.
About NHPC:
- Engaged in the generation and sale of bulk power, with additional activities including project management, construction contracts, consultancy services, and power trading.
- Notable power stations include Salal, Dulhasti, Kishanganga, Nimoo Bazgo, and others.
