NHPC shares gain 4% following PM Modi’s inauguration of Bikaner solar power plant

NHPC shares witnessed a nearly nearly 5% increase in early trading on the NSE after Prime Minister Narendra Modi laid the foundation for a 300 MW solar power plant in Rajasthan, being set up by NHPC.

As of 9:52 am, the shares were trading at 4.31% higher ₹96.85 on the NSE.


In a regulatory filing on February 16, NHPC announced that the prime minister had laid the foundation stone for the 300 MW solar power plant in Bikaner, Rajasthan. The project, being set up by NHPC under the Government of India’s CPSU Scheme, Phase-II, Tranche-III, entails a total investment of over Rs 1,732 crore and is slated to be commissioned by September 2024.

Despite this positive development, NHPC reported a 19% decline in consolidated net profit to Rs 628.44 crore for Q3FY24, compared to Rs 775.99 crore in the previous fiscal year. Total income for the same period also decreased to Rs 2,549.69 crore in Q3FY24, down from Rs 2,691.34 crore a year ago.