NHPC signs supplementary MoU to implement Ratle HE project in Jammu & Kashmir through JVC

NHPC Limited has signed a Supplementary Memorandum of Understanding (MoU) with Jammu and Kashmir State Power Development Corporation Limited (JKSPDCL) and Power Development Department, Govt. of UT of Jammu & Kashmir on 03.01.2021 for implementation of Ratle HE Project (850 MW) in Union Territory of Jammu & Kashmir through a Joint Venture Company (JVC).

In the supplementary MoU, the clause of MoU dated 03.02.2019 regarding purchase of NHPCs equity by JKSPDCL from the end of the 5th year after date of commissioning over 15 years through equal instalments have been deleted.

Now, the share of NHPC Limited in the Joint Venture Company shall not be brought below 51% and share of JKSPDCL shall not be brought below 49%.

Shares of NHPC LTD. was last trading in BSE at Rs.23.1 as compared to the previous close of Rs. 22.75. The total number of shares traded during the day was 733162 in over 1457 trades.

The stock hit an intraday high of Rs. 23.35 and intraday low of 22.55. The net turnover during the day was Rs. 16871372.

Source : Equity Bulls

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