Buy NHPC For Long Term

Buy NHPC For Long TermTechnical Analyst Rajesh Tambe of Sunchan Securities has maintained 'buy' rating on NHPC stock to achieve a long term target.

According to Mr. Rajesh, interested traders can purchase the stock on declines.

Today, the shares of the company opened at Rs 30.10 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 39.75 and a low of Rs 29.60 on BSE.

The company, on April 29, inked MoU with Satluj Jal Vidyut Nigam Ltd (SJVN) and Govt of Manipur for execution of 1500 MW Tipaimukh Hydroelectric.

NHPC Ltd., SJVN Ltd. and Mani Govt shall have a share holding of 69%, 26% and 5% respectively according to the MoU inked in New Delhi.

This project that will be one of the biggest hydro projects in Eastern India thus far will be situated 500 meters downstream of the confluence of the Tuivai and Barak Rivers in Manipur's Churachandpur area.

In April 2010, State-owned NHPC said that it plans to construct two hydroelectric power facilities in Myanmar with a total investment of $5.6 billion as it eyes to strengthen further in the abroad market.

Mr. SK Garg, Chairman and Managing Director, NHPC, stated that NHPC will commission 12 projects during the 11th plan.