NHPC rose 2.38% to Rs 19.35 at 9:33 IST on BSE after the company said that its board will consider a proposal for buy-back of equity shares on 24 October 2013.
The company made the announcement after market hours on Monday, 21 October 2013.
Meanwhile, the BSE Sensex was down 14.01 points, or 0.07%, to 20,879.88.
On BSE, 2.85 lakh shares were traded in the counter compared with average volume of 8.29 lakh shares in the past one quarter.
The stock hit a high of Rs 19.65 and a low of Rs 19.15 so far during the day. The stock hit a 52-week high of Rs 29.40 on 20 February 2013. The stock hit a 52-week low of Rs 14.80 on 7 August 2013.
The stock had underperformed the market over the past one month till 21 October 2013, rising 1.61% compared with the Sensex's 3.11% rise. The scrip had, however, outperformed the market in past one quarter, rising 5.88% as against Sensex's 3.69% rise.
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The large-cap company has an equity capital of Rs 12300.74 crore. Face value per share is Rs 10.
Last month, a media report suggested that NHPC will buy-back its shares worth Rs 1600 crore from the open market. The report said that the Government had earlier planned to disinvest 11.36% stake in NHPC through offer for sale (OFS) route in the domestic market. But due to choppy market conditions, the Government changed the plan to buy-back shares.
NHPC's net profit rose 7.5% to Rs 719.93 crore on 14.4% growth in net sales to Rs 1600.51 crore in Q1 June 2013 over Q1 June 2012.
NHPC is a state-run hydro-power utility. The Government of India (GoI) holds 86.36% stake in NHPC (as per the shareholding pattern as on 30 September 2013).
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