NHPC gains after NCLT approves Rs 907 crore bid of comapany for Lanco Teesta Hydro Power project

29 Jul 2019

NHPC is currently trading at Rs. 22.45, up by 0.05 points or 0.22% from its previous closing of Rs. 22.40 on the BSE.

The scrip opened at Rs. 22.40 and has touched a high and low of Rs. 22.60 and Rs. 22.30 respectively. So far 76149 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 27.50 on 14-Nov-2018 and a 52 week low of Rs. 21.75 on 16-May-2019.

Last one week high and low of the scrip stood at Rs. 23.75 and Rs. 22.15 respectively. The current market cap of the company is Rs. 22601.33 crore.

The promoters holding in the company stood at 73.33%, while Institutions and Non-Institutions held 16.54% and 10.13% respectively.

The National Company Law Tribunal (NCLT) has approved NHPC's Rs 907 crore bid for the debt-ridden Lanco Teesta Hydro Power. The Hyderabad bench of the NCLT approved the recommendations of the Committee of Creditors (CoC) of Lanco Teesta Hydro Power, which had in its meeting in December last year voted in the bid's favour.

Resolution Plan submitted by the NHPC for Lanco Teesta Hydro Power has been approved by NCLT Bench, Hyderabad. As per the resolution plan, NHPC would pay Rs 877.74 crore to the financial creditors and Rs 11.12 crore would go to the operational creditors of Lanco Teesta Hydro Power.

NHPC is engaged in electric power generation by hydroelectric power plants. The company is also engaged in contracts, project management and consultancy works.

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