Hot Pursuit     06-Jun-23
NHPC gains on inking pact with Maharashtra Govt
NHPC rose 1.64% to Rs 44.60 after the company said that it has entered into a memorandum of understanding (MoU) with Department of Energy, Government of Maharashtra for establishment of energy storage systems.
The agreement entails setting up of pumped energy storage systems alongwith other renewable energy source like solar/ wind/ hybrid etc. with a total capacity of 7,350 megawatt.

NHPC is the largest organization for hydropower development in India. It has also diversified in the field of solar & wind power. As of 31 March 2023, the Government of India held 70.95% stake in the company.

The company reported 37.73% jump in consolidated net profit to Rs 643.40 crore in Q4 FY23 from Rs 467.15 crore recorded in Q4 FY22.

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