National Hydroelectric Power Corporation, or NHPC, a publicly owned energy company, has a major hike in the value of its shares amid a larger market slowdown.
NHPC Gets Positive Rating From CLSA
The company shares soared by over 5 per cent in the intraday trade on Thursday, February 20.
This came to pass, after the company received a positive rating from brokering agency CLSA.
The Hong Kong-based brokerage gave the company a high conviction outperform rating, which appears to have aided the company’s prospects.
Target Slimmed
This rating suggests better growth prospects for the company.
It, however, is interesting to note that CLSA has slashed the target for the company shares. The target has been brought down from the previous Rs 120 per share to the new price target of Rs 117 per share.
According to the CLSA, the government-owned energy company’s stock price could double in the next four years.
NHPC Ltd Shares Bloom
When we take a closer look at the company shares, and their progress today, the NHPC shares started the day on Rs 75.50, on a higher note, compared to its previous day’s closing of Rs 74.62 per share.
shares on Thursday
Thereafter, the value of the stock steadily rose. The company shares, at the time of writing, increased by a cumulative 5.59 per cent or Rs 4.17. This took the overall of the NHPC shares to Rs 78.79 per piece.
shares in the past 5 tarding sessions.
This has added to the progress, that the company shares have made in the past 5 trading days. In the past five trading sessions, the PSU’s shares have rise by 5.83 per cent or Rs 4.34.
This seems like a necessary boost, as the company shares, as per recent records, that also account for the gains made in the past week, dipped by 1.65 per cent in the past month of trade.
