.jpg "Hindalco Shares Plummet 15% on Novelis' Bay Minette Project Updates")
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NHPC Share: Shares of NHPC, a prominent public sector power company, experienced a decline of 4.33% on Thursday, falling to Rs 69.9 apiece on the BSE. This comes as the government proposed to disinvest a 2.5% stake through an Offer for Sale (OFS) at a floor price of Rs 66 per share. The market capitalization at the time was Rs 70,214.79 crore.
NHPC on Wednesday, announced the government’s intention to disinvest 2.5% of the paid-up equity, equivalent to 25.1 crore shares, with a face value of Rs 10 each. Additionally, there is an oversubscription option to sell up to 1.00% of the paid-up equity, totaling 100,450,348 equity shares.
The current decline contrasts with NHPC’s impressive performance in the past year, where shares have gained over 65%, outpacing the Nifty 50’s rise of 17%. The disinvestment move, while impacting short-term valuations, raises questions about the government’s strategic decisions and the potential implications for NHPC’s future trajectory in the power sector. Investors and market observers are closely monitoring developments amid the changing dynamics of the energy landscape.
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