NHPC Limited acquires Jalpower Corporation Ltd

The Competent Authority has accorded Government approval for investment of Rs.938.29 crore for acquisition of M/s Jalpower Corporation Limited (JPCL) and construction of balance works of 120 MW Rangit-IV HE Project, located on river Rangit in West Sikkim district of Sikkim, by NHPC Limited. The above cost includes Rs. 165 Crore to be paid by NHPC for acquisition of JPCL through Corporate Insolvency Resolution Process (CIRP).

Shares of NHPC LTD. was last trading in BSE at Rs.25.15 as compared to the previous close of Rs. 23.25. The total number of shares traded during the day was 1150214 in over 1778 trades.

The stock hit an intraday high of Rs. 26 and intraday low of 23.3. The net turnover during the day was Rs. 28390524.

Source : Equity Bulls

Keywords