NHPC share price jumps over 8% even as brokerages have mixed views on its prospects
NHPC in response to the third-quarter results of the Indian public sector hydropower provider. With an increased target price of ₹91, up about 6% from the prior target price of ₹86, JM Financial is still recommending NHPC as a "buy." Additionally, the brokerage believes that the stock has over 12% potential.
On the other hand, Kotak Institutional Equities has revised its target price for NHPC stock to ₹60 per share and downgraded it from 'Add' to'sell'. Due to rising expenditures, the state-owned NHPC reported on Monday a 19% decline in its consolidated net profit for the quarter ended December, to ₹628.44 crore.
According to the company's exchange statement, the hydropower generator recorded a net profit of ₹775.99 crore for the October-December 2022–2023 period. Also Read: Stock market today: Why Bank stocks are rising ahead of US CPI data release — explained with two reasons "Exciting news! Mint is now on WhatsApp Channels
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