Please refer to important disclosures at the end of this report
NHPC Limited (NHPC) is engaged in electricity generation and electric powe
generation by hydroelectric power plants. NHPC is India’s largest hydropowe
generating company. Recently, NHPC has signed PPA with Rajasthan distribution
utilities for its first wind power project of 50MW which has already commenced
generation since then. It is currently in the process of developing a 72MW wind
project in Kerala (64 + 8MW) and a 16MW project in Andhra Pradesh.
Meanwhile, the company is working towards starting one unit at Parbati II o
200MW from the water discharge through three nullahs in Q4FY17, although
the entire project would be fully operational by H2FY19. While the Management
is undertaking various initiatives to bring down the tariff rates of these upcoming
projects and it seems to be positive for the company going forward. The
company has been maintaining a healthy dividend payout of 47.93%. The stock
is providing a good dividend yield of 5.35%. Hence Buy.
CMP `28
Stock Info
Beta 1.0
Bloomberg Code
Shareholding Pattern (%)
Promoters 74.6
MF / Banks / Indian Fls 15.8
FII / NRIs / OCBs 3.7
Indian Public / Others 5.9
Abs. (%) 3m 1yr 3yr
Sensex (4.5) 2.0 28.2
NHPC 3.1 48.8 54.5
52 Week High / Low 28/19
Avg. Daily Volume 7,51,323
Market Cap (
cr) 34,504
BSE Sensex 26,653
Nifty 8,225
Face Value (
Reuters Code NHPC.BO
Vaibhav Agrawal
022 – 3935 7800 Ext: 6808
Others | Powe
December 1, 2016
NHPC | Powe
December 1, 2016
Research Team Tel: 022 - 39357800 E-mail: [email protected] Website:
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Disclosure of Interest Statement NHPC
1. Financial interest of research analyst or Angel or his Associate or his relative No
2. Ownership of 1% or more of the stock by research analyst or Angel or associates or relatives No
3. Served as an officer, director or employee of the company covered under Research No
4. Broking relationship with company covered under Research No
Ratings (Based on expected returns Buy (> 15%) Accumulate (5% to 15%) Neutral (-5 to 5%)
over 12 months investment
: Reduce
-5% to -15%
< -15