“A proposal for buy-back of equity shares is to be considered by the board of directors of the company in its board meeting scheduled to be held on October 24,” the company said in its filing.
Shares of NHPC rallied 4 percent in intraday trade on Tuesday ahead of board meeting for buyback of equity shares this week. “A proposal for buy-back of equity shares is to be considered by the board of directors of the company in its board meeting scheduled to be held on October 24,” the company said in its filing. The government holds 86.36 percent stake in the company as of June 2013 while LIC has 1.84 percent shareholding. Meanwhile, the state-run hydro power generator launched its tax free bonds issue for subscription last week. The company intends to raise Rs 500 crore through the issue, with an option to retain over subscription of Rs 500 crore, aggregating to Rs 1,000 crore. At 12:38 hours IST, the stock was trading at Rs 19.45, up 2.91 percent on the Bombay Stock Exchange.
technical chart view
as per the technical chart of nhpc we can see that it has made “SYMMETRIC TRIANGLE” on chart, so once able to cross the levels we can see good moves in stock.
as per technical we can see that if it give 2 day close above 20.5 then upside we can expect 26-30 also.