NHPC shares slip over 3% in trade to hit an intraday low of Rs 51.70 after Sikkim’s Flash Floods caused issues at NHPC’s Hydro Project on the Teesta River. NHPC’s Teesta V (510MW) project has seen radial gate damage, and all operations at the projects have been shut down. Another project, Teesta VI, 500MW, under construction unit too has seen some damage.
NHPC stock so far this year has however clocked a jump of nearly 30%. In response to the incident at Sikkim, the company informed the exchanges today that all units of Teesta-V Power Station have been shut-down and detailed assessment of losses/ damages suffered will be carried out after water level recedes.
The company further assured that the assets and loss of profit of Power Station is fully insured under Mega Insurance policy.
At 11:15 IST, shares of NHPC were down 1.88% at Rs 52.25.
