1.96% Dividend Yield: Multibagger PSU Stock To Buy As Recommended By PL, TP Rs 117

Leading public sector undertaking NHPC Ltd shares declined 7.80% in last 3-months but gained 186% in last 2-years. Last trading price of NHPC shares on BSE is Rs 97.10 per share. Leading brokerage firm Prabhudas Lilladher has recommended investors to buy NHPC shares with target price of Rs 117 per share and keep the stop loss at Rs 93 per share. The PSU has a market capitalisation of Rs 97,537.29 crore. NHPC offers a dividend yield of 1.96%. Earlier on August 8, NHPC shares traded ex-dividend for re 0.50/- per equity share for the FY 2023-24. Check details below:

Prabhudas Lilladher Assigns Buy Call: Vaishali Parekh from Prabhudas Lilladher said, "the stock after witnessing a decent erosion from the high made near 118 zone has shown signs of bottoming out taking support near 92.50 level with a decent pullback witnessed has improved the bias. Further ahead, a decisive breach above the significant 50 EMA level of 100 shall further strengthen the trend and anticipate for further rise in the coming days. With the RSI attaining the oversold zone and indicating a positive trend reversal to signal a buy, we suggest to buy the stock for an upside target of Rs 117 keeping the stop loss of Rs 93."

Shareholding: FII/FPI have increased holdings from 6.80% to 8.96% in Jun 2024 qtr. Number of FII/FPI investors increased from 319 to 569 in June 2024 quarter. Number of MF schemes increased from 27 to 28 in June 2024 quarter. Institutional Investors have increased holdings from 19.39% to 20.51% in June 2024 quarter. Life insurance corporation of India (LIC) has 3.84% stake in NHPC with 385,595,015 shares of the PSU for the June 2024 quarter (LIC stake was 3.24% stake in March 2024 quarter), according to Trendlyne.

NHPC Shares Performance: The 52-week high price of NHPC Limited share on BSE is Rs 118.45 apiece (as on 15/07/2024) and 52-week low price is Rs 48.48 apiece (as on 26/10/2023), respectively. NHPC shares surged 47% year-to-date, rallied 92% in last 1-year, and offered return of 269% in last 3-years. In last 5-years, NHPC stock offered attractive returns of 317%.

NHPC Dividend History: NHPC announced 25 dividends since September 7, 2010. In the last 1-year, NHPC declared an equity dividend amounting to Rs 1.90 per share. At the current share price of Rs 97.10, NHPC Ltd offers dividend yield of 1.96%.

NHPC Financials: The leading PSU recorded a marginal surge of 1% in its consolidated net profit for the quarter ended June 30, 2024 at Rs 1108.46 crore as against the consolidated net profit of Rs 1095.38 crore declared in the corresponding quarter of last year, as per the BSE filing. Total income of NHPC announced at Rs 3037.92 crore for the June 2024 quarter as compared to Rs 3010.22 crore declared in the similar quarter of last year. NHPC also gave nod to monetisation of future cash flow (return on equity) in respect of Dulhasti Power Station or any other power station(s) of the company for 8/10 years in single tranche during financial year 2024-25.

About: NHPC Limited is the largest hydropower development organization in India, with capabilities to undertake all the activities from conceptualization to commissioning of hydro projects. NHPC has also diversified in the field of Solar & Wind energy development etc. NHPC Ltd. (Formerly known as National Hydroelectric Power Corporation Ltd.) was incorporated in 1975 under Companies Act, 1956. The company is mandated to plan, promote and organize an integrated and efficient development of power in all its aspects through Conventional and Non-Conventional Sources in India and abroad. NHPC is a listed company on NSE and BSE after successfully concluding its IPO in 2009.

Disclaimer:

The stock has been picked from the brokerage report of Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.