NHPC shares soar 12% in two sessions. Here’s why
Shares of NHPC jumped 6% to hit their fresh 52-week high of Rs 75.30 on the NSE on Friday extending the gains in two sessions to over 12%. The stock of this state-run hydropower company has been rallying following a Rs 4,000 crore Memorandum of Understanding (MoU) signed by it with the Gujarat government.
The MoU was signed with Gujarat Power Corporation Limited (GPCL) for a proposed investment of Rs 4,000 crore in the Kuppa Pumped Storage Project (750 MW), Chhota Udaipur, Gujarat with a proposed year for commencement of investment as 2024-25. On Thursday, the company informed exchanges about the development.
