NHPC shares in news today, here's why  

Shares of hydropower producer NHPC Ltd are in news today after the firm said it has inked a memorandum of understanding (MoU) with the Department of Water Resources (WRD), Maharashtra government, for the establishment of energy storage systems (pumped storage systems) along with other renewable energy sources (such as solar/wind/hybrid) with a total capacity of 7,350 MW.

NHPC stock ended 1.21% higher at Rs 99.04 on Tuesday on BSE.  Market cap of the firm stood at Rs 99,486 crore. The power sector stock has surged 97% in a year and gained 154.60% in two years.

NHPC stock logged a turnover of Rs 29.02 crore with 29.47 lakh shares changing hands on BSE. The stock touched its record high of Rs 118.85 on July 15, 2024 and fell to its a 52-week low of Rs 48.48 on October 26, 2023.

NHPC Limited is engaged in the generation and sale of bulk power to various power utilities. The company’s other business activities include project management / construction contracts/ consultancy assignment services and trading of power. The company’s power stations include Salal, Dulhasti, Kishanganga, Nimoo Bazgo, Chutak, Baira Siul, Tanakpur, Dhauliganga, Rangit, Loktak, Indira Saga, Chamera - I, Uri - I, Chamera - II and Omkareshwa.