Wednesday, 8 February 2017

NHPC hits lower circuit on share buyback plan

Ripples Advisory Private Limited, Indore @9303093093

Shares of NHPC dipped nearly 2 per cent and locked in lower circuit on the Bombay Stock Exchange after the state-controlled company said that its board has approved stock buyback proposal and fixed price at Rs 32.25 apiece. Weighed down by the development, shares of company declined as much as 1.75 per cent to hit intra-day low of Rs 30.70 apiece on the Bombay Stock Exchange. 

In a similar fashion, stocks of firm tanked 1.76 per cent to Rs 30.75 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 28,316.83, down 18.33 points, or 0.06 per cent.

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