NHPC
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Nepal turns power importer after deadly floods
Climate threats cloud Himalayan energy investments
Floods expose risks to Nepal's hydropower boom
By Gopal Sharma and Sudarshan Varadhan
KATHMANDU/SINGAPORE, Sept 1 (Reuters) - Deadly floods that wiped out a tenth of Nepal's electricity generation capacity last week have cast doubt on the country's ambitious hydropower expansion plans, forcing the long-time power exporter to turn to India to keep the lights on.
Hydropower supplies almost all of Nepal's electricity and has become a fast-growing source of export revenue. Companies including Adani Group, NHPC NHPC.NS and GMR have pledged to help finance a more than threefold expansion in capacity over a decade to supply India's coal-heavy grid.
But after floods ravaged Bagmati province, Nepal's main hydropower-producing region, last week, the country halted power exports and will buy electricity from India to cover domestic shortages in the coming months, Nepal energy ministry spokesperson Mohan Kumar Shakya said.
"A post-disaster need assessment will be carried out. That report will show how long it will take to get this back. It will take time," Shakya told Reuters, adding that 431 megawatts, or 10% of Nepal's generation capacity, had been affected.
Environmental experts say the risks are compounded by hydropower plants built or planned in vulnerable riverbeds and flood-prone valleys, as well as by accelerating climate change driven by global fossil fuel use.
"Nepal's mountains have been sending warnings for a decade: thinning glaciers, retreating snowlines and hydropower plants we kept building anyway," said Anjal Prakash, author of the Intergovernmental Panel on Climate Change report on climate change and cities.
But the lack of coal- or gas-fired generation capacity and limited wind and solar potential have left the landlocked country between China and India heavily reliant on hydropower to meet rising electricity demand.
Hydropower exports have also become an important source of revenue, rising an average of 75% over the past decade and accounting for nearly a tenth of Nepal's annual exports in the year ended July, according to a Reuters analysis of data from the Nepal Electricity Authority and the department of customs.
"If they don't develop the rivers, even though those catchments are fragile, what realistic choice do they have at scale?" said Victor Vanya, CEO and co-founder of electricity data analytics firm EMA Solutions.
CLIMATE CHANGE AND THE HIMALAYAS
The floods in Nepal are the latest in a series of extreme weather events around the world this year. Heatwaves have scorched parts of Western Europe, Australia and South America, while wildfires have spread across Spain, France and Chile.
In two districts of Bagmati province, nearly 900 people are missing in power plants after floods hit 11 projects in operation or under construction, the energy ministry said.
"Investors typically look at past precedents to assess risk, but historical hydrology is becoming a poor guide because of climate change," Vanya said.
The scale of the flooding was beyond the reach of conventional warning systems and underscored the need to rethink how infrastructure is planned in the Himalayas, said Farooq Azam, senior cryosphere specialist at the International Centre for Integrated Mountain Development.
"There is a need to assess how changing environmental and mountain conditions could affect infrastructure over its lifetime," Azam said.
Simon Stiell, executive secretary of the United Nations Framework Convention on Climate Change, said "humanity burning colossal amounts of coal, oil and gas is making tragedies like this one ... much more likely."
"Every villager who watched that valley disappear paid for emissions decisions made thousands of kilometres away," Prakash said.
(Reporting by Gopal Sharma in Kathmandu and Sudarshan Varadhan in Singapore. Editing by Mark Potter)
(([email protected]; +65 91164984;))
Nepal turns power importer after deadly floods
Climate threats cloud Himalayan energy investments
Floods expose risks to Nepal's hydropower boom
By Gopal Sharma and Sudarshan Varadhan
KATHMANDU/SINGAPORE, Sept 1 (Reuters) - Deadly floods that wiped out a tenth of Nepal's electricity generation capacity last week have cast doubt on the country's ambitious hydropower expansion plans, forcing the long-time power exporter to turn to India to keep the lights on.
Hydropower supplies almost all of Nepal's electricity and has become a fast-growing source of export revenue. Companies including Adani Group, NHPC NHPC.NS and GMR have pledged to help finance a more than threefold expansion in capacity over a decade to supply India's coal-heavy grid.
But after floods ravaged Bagmati province, Nepal's main hydropower-producing region, last week, the country halted power exports and will buy electricity from India to cover domestic shortages in the coming months, Nepal energy ministry spokesperson Mohan Kumar Shakya said.
"A post-disaster need assessment will be carried out. That report will show how long it will take to get this back. It will take time," Shakya told Reuters, adding that 431 megawatts, or 10% of Nepal's generation capacity, had been affected.
Environmental experts say the risks are compounded by hydropower plants built or planned in vulnerable riverbeds and flood-prone valleys, as well as by accelerating climate change driven by global fossil fuel use.
"Nepal's mountains have been sending warnings for a decade: thinning glaciers, retreating snowlines and hydropower plants we kept building anyway," said Anjal Prakash, author of the Intergovernmental Panel on Climate Change report on climate change and cities.
But the lack of coal- or gas-fired generation capacity and limited wind and solar potential have left the landlocked country between China and India heavily reliant on hydropower to meet rising electricity demand.
Hydropower exports have also become an important source of revenue, rising an average of 75% over the past decade and accounting for nearly a tenth of Nepal's annual exports in the year ended July, according to a Reuters analysis of data from the Nepal Electricity Authority and the department of customs.
"If they don't develop the rivers, even though those catchments are fragile, what realistic choice do they have at scale?" said Victor Vanya, CEO and co-founder of electricity data analytics firm EMA Solutions.
CLIMATE CHANGE AND THE HIMALAYAS
The floods in Nepal are the latest in a series of extreme weather events around the world this year. Heatwaves have scorched parts of Western Europe, Australia and South America, while wildfires have spread across Spain, France and Chile.
In two districts of Bagmati province, nearly 900 people are missing in power plants after floods hit 11 projects in operation or under construction, the energy ministry said.
"Investors typically look at past precedents to assess risk, but historical hydrology is becoming a poor guide because of climate change," Vanya said.
The scale of the flooding was beyond the reach of conventional warning systems and underscored the need to rethink how infrastructure is planned in the Himalayas, said Farooq Azam, senior cryosphere specialist at the International Centre for Integrated Mountain Development.
"There is a need to assess how changing environmental and mountain conditions could affect infrastructure over its lifetime," Azam said.
Simon Stiell, executive secretary of the United Nations Framework Convention on Climate Change, said "humanity burning colossal amounts of coal, oil and gas is making tragedies like this one ... much more likely."
"Every villager who watched that valley disappear paid for emissions decisions made thousands of kilometres away," Prakash said.
(Reporting by Gopal Sharma in Kathmandu and Sudarshan Varadhan in Singapore. Editing by Mark Potter)
(([email protected]; +65 91164984;))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Shritama Bose
MUMBAI, Aug 5 (Reuters Breakingviews) - India's toughest fiscal challenge in years will bring out New Delhi's dealmaking side. The government is raising 314 billion rupees, or $3.3 billion, by trimming its stake in Life Insurance Corporation LIFI.NS. The proceeds will help shore up the war-battered public balance sheet and inspire similar sales.
New Delhi is offering up to a 6.5% stake in LIC to institutions and retail investors at 382 rupees a share. The deal values the country's largest life insurer by premiums at an 11% discount to the stock's last-traded price, which isn't too steep considering volatile market conditions and fierce competition in the sector.
The latest divestment is part of a government push to raise 800 billion rupees in capital for the fiscal year ending March 2027. Along with share sales in other companies like $27 billion miner Coal India COAL.NS and hydropower producer NHPC NHPC.NS, combined proceeds are on track to top 526 billion rupees, roughly two-thirds of the 12-month goal.
As war rages on in the Middle East, that will offer some fiscal cushion to Prime Minister Narendra Modi's government, which is grappling with rising oil prices. Revenue collections have turned lacklustre too, after cuts to indirect tax rates. Concern that his administration will breach a fiscal deficit target of 4.3% of GDP for the current year is mounting. Higher fertiliser subsidies and debt servicing costs may ultimately widen the deficit by an additional 0.3% of GDP, analysts at ANZ warn.
That risk should prompt officials to accelerate deals. Last year, Goldman Sachs was hired to manage stake sales in four state-owned lenders, including narrowly held UCO Bank UCBK.NS and Punjab and Sind Bank. The government could also revive the process to find a new owner for LIC-backed IDBI Bank IDBI.NS, which received fresh bids from Canada's Fairfax and Abu Dhabi's Emirates NBD last month, per a Reuters report citing sources.
Fiscal pressure will force New Delhi to be more aggressive and creative.
Follow Shritama Bose on LinkedIn and X.
CONTEXT NEWS
The government of India on August 4 launched an offer for up to 822 million of its shares in Life Insurance Corporation, representing an up to 6.5% stake in the insurer.
The offer priced at 382 rupees ($4.01) per share, an 11% discount to their last-traded price, opened for bidding by institutions on August 4 and will accept retail subscriptions on August 5.
(Editing by Robyn Mak; Production by Ujjaini Dutta)
((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Shritama Bose
MUMBAI, Aug 5 (Reuters Breakingviews) - India's toughest fiscal challenge in years will bring out New Delhi's dealmaking side. The government is raising 314 billion rupees, or $3.3 billion, by trimming its stake in Life Insurance Corporation LIFI.NS. The proceeds will help shore up the war-battered public balance sheet and inspire similar sales.
New Delhi is offering up to a 6.5% stake in LIC to institutions and retail investors at 382 rupees a share. The deal values the country's largest life insurer by premiums at an 11% discount to the stock's last-traded price, which isn't too steep considering volatile market conditions and fierce competition in the sector.
The latest divestment is part of a government push to raise 800 billion rupees in capital for the fiscal year ending March 2027. Along with share sales in other companies like $27 billion miner Coal India COAL.NS and hydropower producer NHPC NHPC.NS, combined proceeds are on track to top 526 billion rupees, roughly two-thirds of the 12-month goal.
As war rages on in the Middle East, that will offer some fiscal cushion to Prime Minister Narendra Modi's government, which is grappling with rising oil prices. Revenue collections have turned lacklustre too, after cuts to indirect tax rates. Concern that his administration will breach a fiscal deficit target of 4.3% of GDP for the current year is mounting. Higher fertiliser subsidies and debt servicing costs may ultimately widen the deficit by an additional 0.3% of GDP, analysts at ANZ warn.
That risk should prompt officials to accelerate deals. Last year, Goldman Sachs was hired to manage stake sales in four state-owned lenders, including narrowly held UCO Bank UCBK.NS and Punjab and Sind Bank. The government could also revive the process to find a new owner for LIC-backed IDBI Bank IDBI.NS, which received fresh bids from Canada's Fairfax and Abu Dhabi's Emirates NBD last month, per a Reuters report citing sources.
Fiscal pressure will force New Delhi to be more aggressive and creative.
Follow Shritama Bose on LinkedIn and X.
CONTEXT NEWS
The government of India on August 4 launched an offer for up to 822 million of its shares in Life Insurance Corporation, representing an up to 6.5% stake in the insurer.
The offer priced at 382 rupees ($4.01) per share, an 11% discount to their last-traded price, opened for bidding by institutions on August 4 and will accept retail subscriptions on August 5.
(Editing by Robyn Mak; Production by Ujjaini Dutta)
((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))
Aug 4 (Reuters) - NHPC Ltd NHPC.NS:
NHPC JUNE-QUARTER CONSOL NET PROFIT 10.96 BILLION RUPEES
NHPC JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 38.08 BILLION RUPEES
Source text: [ID:]
Further company coverage: NHPC.NS
(([email protected];;))
Aug 4 (Reuters) - NHPC Ltd NHPC.NS:
NHPC JUNE-QUARTER CONSOL NET PROFIT 10.96 BILLION RUPEES
NHPC JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 38.08 BILLION RUPEES
Source text: [ID:]
Further company coverage: NHPC.NS
(([email protected];;))
** Shares of NHPC NHPC.NS and Patel Engineering PENG.NS fall 0.3% and 2% respectively
** NHPC says an explosion inside an under-construction tunnel at its Teesta Stage VI hydropower project in India's northeastern state of Sikkim kills 10 workers and leaves 15 trapped
** Blast was suspected to have been triggered by a sudden release of methane gas trapped within surrounding rock formations, generating dense fumes and toxic gases inside the tunnel
** Incident occurred on Monday, companies say
** YTD, NHPC up 1.6% and PENG up ~4%
(Reporting by Urvi Dugar in Bengaluru)
(([email protected];))
** Shares of NHPC NHPC.NS and Patel Engineering PENG.NS fall 0.3% and 2% respectively
** NHPC says an explosion inside an under-construction tunnel at its Teesta Stage VI hydropower project in India's northeastern state of Sikkim kills 10 workers and leaves 15 trapped
** Blast was suspected to have been triggered by a sudden release of methane gas trapped within surrounding rock formations, generating dense fumes and toxic gases inside the tunnel
** Incident occurred on Monday, companies say
** YTD, NHPC up 1.6% and PENG up ~4%
(Reporting by Urvi Dugar in Bengaluru)
(([email protected];))
July 16 (Reuters) - NHPC Ltd NHPC.NS:
NHPC - UNIT#3 OF TEESTA-V POWER STATION SIKKIM RESUMES COMMERCIAL GENERATION ON 16 JULY 2026
Source text: [ID:]
Further company coverage: NHPC.NS
(([email protected];))
July 16 (Reuters) - NHPC Ltd NHPC.NS:
NHPC - UNIT#3 OF TEESTA-V POWER STATION SIKKIM RESUMES COMMERCIAL GENERATION ON 16 JULY 2026
Source text: [ID:]
Further company coverage: NHPC.NS
(([email protected];))
NEW DELHI, July 13 (Reuters) - India has asked renewable energy companies to either surrender transmission rights or provide higher bank guarantees if they fail to generate power, as the country seeks to free up grid capacity for projects that are actually producing electricity, according to a regulatory order.
Here are some details:
The companies can also transfer transmission rights for their group utility that are generating but does not have connectivity to grid, an order from the Central Electricity Regulatory Commission dated July 11 said.
A substantial amount of renewable energy capacity has been awarded between 2019-2025 to power producers, but most of it does not yet have customers, the CERC said.
As a result, transmission access is being occupied by projects that may not move ahead, and CERC believes about 15.7 GW of this connectivity could be released for other developers.
Power producers can also retain transmission connectivity, provide additional bank guarantees, but develop the power project independently, the CERC said.
Connectivity surrendered will first be offered to existing applicants in the same substation cluster and any remaining capacity will be auctioned.
(Reporting by Sethuraman NR, Editing by Louise Heavens)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
NEW DELHI, July 13 (Reuters) - India has asked renewable energy companies to either surrender transmission rights or provide higher bank guarantees if they fail to generate power, as the country seeks to free up grid capacity for projects that are actually producing electricity, according to a regulatory order.
Here are some details:
The companies can also transfer transmission rights for their group utility that are generating but does not have connectivity to grid, an order from the Central Electricity Regulatory Commission dated July 11 said.
A substantial amount of renewable energy capacity has been awarded between 2019-2025 to power producers, but most of it does not yet have customers, the CERC said.
As a result, transmission access is being occupied by projects that may not move ahead, and CERC believes about 15.7 GW of this connectivity could be released for other developers.
Power producers can also retain transmission connectivity, provide additional bank guarantees, but develop the power project independently, the CERC said.
Connectivity surrendered will first be offered to existing applicants in the same substation cluster and any remaining capacity will be auctioned.
(Reporting by Sethuraman NR, Editing by Louise Heavens)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
** Power generation company NHPC's NHPC.NS shares fall 3.3% to 74.7 rupees, its lowest since March
** India says it will sell up to 6% stake in co
** The floor price has been fixed at 71 rupees/shr, implying about an 8% discount to NHPC's last closing price
** India holds a 67.4% stake in NHPC
** Stock trades at forward 12-months PE of 15.48, in-line with industry media
** Five of 8 brokerages rate the stock "buy" or higher; their median PT is 87 rupees
** YTD, stock down 5.7% vs 13.2% rise in Nifty Energy Index .NIFTYENR
(Reporting by Abhinav Parmar in Bengaluru)
(([email protected];))
** Power generation company NHPC's NHPC.NS shares fall 3.3% to 74.7 rupees, its lowest since March
** India says it will sell up to 6% stake in co
** The floor price has been fixed at 71 rupees/shr, implying about an 8% discount to NHPC's last closing price
** India holds a 67.4% stake in NHPC
** Stock trades at forward 12-months PE of 15.48, in-line with industry media
** Five of 8 brokerages rate the stock "buy" or higher; their median PT is 87 rupees
** YTD, stock down 5.7% vs 13.2% rise in Nifty Energy Index .NIFTYENR
(Reporting by Abhinav Parmar in Bengaluru)
(([email protected];))
June 1 (Reuters) - The Indian government will sell up to a 6% stake in NHPC NHPC.NS via an offer for sale, an exchange filing by the hydropower company showed on Monday.
Here are some details:
The OFS consists of a base offer of up to a 3% equity stake in the company, with an option to sell an additional 3%.
The floor price has been fixed at 71 rupees per share, implying about an 8% discount to NHPC's last closing price.
An OFS allows promoters or large shareholders of listed companies to sell shares through stock exchanges.
The stake sale is part of the Indian government's broader divestment and asset monetisation program. It holds a 67.4% stake in NHPC.
The government has a divestment and asset monetisation target of 800 billion rupees for fiscal year 2027, according to the Union Budget.
In May, the government sold an 8% stake in Central Bank of India and a 2% stake in Coal India via OFS.
(Reporting by Nishit Navin in Bengaluru; Editing by Shilpi Majumdar)
(([email protected];))
June 1 (Reuters) - The Indian government will sell up to a 6% stake in NHPC NHPC.NS via an offer for sale, an exchange filing by the hydropower company showed on Monday.
Here are some details:
The OFS consists of a base offer of up to a 3% equity stake in the company, with an option to sell an additional 3%.
The floor price has been fixed at 71 rupees per share, implying about an 8% discount to NHPC's last closing price.
An OFS allows promoters or large shareholders of listed companies to sell shares through stock exchanges.
The stake sale is part of the Indian government's broader divestment and asset monetisation program. It holds a 67.4% stake in NHPC.
The government has a divestment and asset monetisation target of 800 billion rupees for fiscal year 2027, according to the Union Budget.
In May, the government sold an 8% stake in Central Bank of India and a 2% stake in Coal India via OFS.
(Reporting by Nishit Navin in Bengaluru; Editing by Shilpi Majumdar)
(([email protected];))
MUMBAI, May 22 (Reuters) - India's NHPC NHPC.NS is planning to raise 20 billion rupees ($208.5 million), including a greenshoe option of 15 billion rupees, by selling separately transferable redeemable principal part (STRPP) bonds with six- to 15-year maturities, three merchant bankers said on Friday.
The state-run hydroelectric power company has invited coupon and commitment bids from investors on Tuesday, they said.
NHPC did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on May 22:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
NHPC | 6 to 15 years | To be decided | 5+15 | May 26 | AAA (Care, India Ratings) |
Muthoot Finance | 3 years and 2 months | 8.52 (initial) | 31.35+18.65 | May 25 | AA+ (Icra, Crisil) |
Cholamandalam Investment | 2 years and 9 months | 8.12 (initial) | 50 | May 25 | AA+ (Icra, Care) |
*Size includes base plus greenshoe for some issues
($1 = 95.9300 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sonia Cheema)
MUMBAI, May 22 (Reuters) - India's NHPC NHPC.NS is planning to raise 20 billion rupees ($208.5 million), including a greenshoe option of 15 billion rupees, by selling separately transferable redeemable principal part (STRPP) bonds with six- to 15-year maturities, three merchant bankers said on Friday.
The state-run hydroelectric power company has invited coupon and commitment bids from investors on Tuesday, they said.
NHPC did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on May 22:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
NHPC | 6 to 15 years | To be decided | 5+15 | May 26 | AAA (Care, India Ratings) |
Muthoot Finance | 3 years and 2 months | 8.52 (initial) | 31.35+18.65 | May 25 | AA+ (Icra, Crisil) |
Cholamandalam Investment | 2 years and 9 months | 8.12 (initial) | 50 | May 25 | AA+ (Icra, Care) |
*Size includes base plus greenshoe for some issues
($1 = 95.9300 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sonia Cheema)
May 15 (Reuters) - NHPC Ltd NHPC.NS:
MARCH-QUARTER CONSOL NET PROFIT 14.60 BILLION RUPEES
MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 28.16 BILLION RUPEES
MARCH-QUARTER RESULTS INCLUDE DEFERRED TAX OF 19.7 BILLION RUPEES
Source text: ID:nnAZN4SWLDS
Further company coverage: NHPC.NS
(([email protected];;))
May 15 (Reuters) - NHPC Ltd NHPC.NS:
MARCH-QUARTER CONSOL NET PROFIT 14.60 BILLION RUPEES
MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 28.16 BILLION RUPEES
MARCH-QUARTER RESULTS INCLUDE DEFERRED TAX OF 19.7 BILLION RUPEES
Source text: ID:nnAZN4SWLDS
Further company coverage: NHPC.NS
(([email protected];;))
April 8 (Reuters) - NHPC Ltd NHPC.NS:
INVESTMENT APPROVAL FOR KAMALA HYDRO ELECTRIC PROJECT (1720 MW)
INVESTMENT OF 260.7 BILLION RUPEES
Source text: ID:nBSE8hgVkw
Further company coverage: NHPC.NS
(([email protected];;))
April 8 (Reuters) - NHPC Ltd NHPC.NS:
INVESTMENT APPROVAL FOR KAMALA HYDRO ELECTRIC PROJECT (1720 MW)
INVESTMENT OF 260.7 BILLION RUPEES
Source text: ID:nBSE8hgVkw
Further company coverage: NHPC.NS
(([email protected];;))
March 27 (Reuters) - NHPC Ltd NHPC.NS:
NHPC - SIGNS IMPLEMENTATION AGREEMENT FOR PROJECTS WITH JAMMU & KASHMIR STATE POWER DEVELOPMENT CORPORATION LIMITED
Source text: ID:nBSE8fWvkb
Further company coverage: NHPC.NS
(([email protected];))
March 27 (Reuters) - NHPC Ltd NHPC.NS:
NHPC - SIGNS IMPLEMENTATION AGREEMENT FOR PROJECTS WITH JAMMU & KASHMIR STATE POWER DEVELOPMENT CORPORATION LIMITED
Source text: ID:nBSE8fWvkb
Further company coverage: NHPC.NS
(([email protected];))
March 25 (Reuters) - NHPC Ltd NHPC.NS:
NHPC - APPROVED PROPOSAL REGARDING BORROWING PLAN FOR RAISING OF DEBT UPTO 80 BILLION RUPEES DURING FY 2026-27
NHPC - RAISING OF DEBT THROUGH NON-CONVERTIBLE CORPORATE BONDS
Source text: ID:nBSE3y14bM
Further company coverage: NHPC.NS
(([email protected];))
March 25 (Reuters) - NHPC Ltd NHPC.NS:
NHPC - APPROVED PROPOSAL REGARDING BORROWING PLAN FOR RAISING OF DEBT UPTO 80 BILLION RUPEES DURING FY 2026-27
NHPC - RAISING OF DEBT THROUGH NON-CONVERTIBLE CORPORATE BONDS
Source text: ID:nBSE3y14bM
Further company coverage: NHPC.NS
(([email protected];))
March 18 (Reuters) - NHPC Ltd NHPC.NS:
TO CONSIDER PROPOSAL REGARDING BORROWING PLAN FOR FINANCIAL YEAR 2026-27
Source text: ID:nBSE4zXVq7
Further company coverage: NHPC.NS
(([email protected];))
March 18 (Reuters) - NHPC Ltd NHPC.NS:
TO CONSIDER PROPOSAL REGARDING BORROWING PLAN FOR FINANCIAL YEAR 2026-27
Source text: ID:nBSE4zXVq7
Further company coverage: NHPC.NS
(([email protected];))
MUMBAI, Feb 25 (Reuters) - India's NHPC NHPC.NS has accepted bids worth 20 billion rupees ($220.1 million) for separately transferable redeemable principal part (STRPP) bonds with six-year to 15-year maturities, three merchant bankers said on Wednesday.
The state-run hydroelectric power company will pay an annual coupon of 7.29% and had invited coupon and commitment bids from investors earlier in the day, they said.
NHPC did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on February 25:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
NHPC | 6-15 year STRPP | 7.29 | 20 | February 25 | AAA (Care, India Ratings) |
Embassy Office Parks REIT | 10 years | To be decided | 14 | February 26 | AAA (Crisil, Care) |
*Size includes base plus greenshoe for some issues
($1 = 90.8840 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sumana Nandy)
MUMBAI, Feb 25 (Reuters) - India's NHPC NHPC.NS has accepted bids worth 20 billion rupees ($220.1 million) for separately transferable redeemable principal part (STRPP) bonds with six-year to 15-year maturities, three merchant bankers said on Wednesday.
The state-run hydroelectric power company will pay an annual coupon of 7.29% and had invited coupon and commitment bids from investors earlier in the day, they said.
NHPC did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on February 25:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
NHPC | 6-15 year STRPP | 7.29 | 20 | February 25 | AAA (Care, India Ratings) |
Embassy Office Parks REIT | 10 years | To be decided | 14 | February 26 | AAA (Crisil, Care) |
*Size includes base plus greenshoe for some issues
($1 = 90.8840 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sumana Nandy)
MUMBAI, Feb 23 (Reuters) - India's NHPC NHPC.NS plans to raise 20 billion rupees ($220.14 million), including a greenshoe option of 15 billion rupees, selling separately transferable redeemable principal part (STRPP) bonds with six to 15-year maturities, three merchant bankers said on Monday.
The state-run hydroelectric power company has invited coupon and commitment bids from investors on Wednesday, they said.
NHPC did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on February 23:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
NHPC STRPPs | 6 to 15 years | To be decided | 5+15 | February 25 | AAA (Care, India Rating) |
*Size includes base plus greenshoe for some issues
($1 = 90.8520 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)
MUMBAI, Feb 23 (Reuters) - India's NHPC NHPC.NS plans to raise 20 billion rupees ($220.14 million), including a greenshoe option of 15 billion rupees, selling separately transferable redeemable principal part (STRPP) bonds with six to 15-year maturities, three merchant bankers said on Monday.
The state-run hydroelectric power company has invited coupon and commitment bids from investors on Wednesday, they said.
NHPC did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on February 23:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
NHPC STRPPs | 6 to 15 years | To be decided | 5+15 | February 25 | AAA (Care, India Rating) |
*Size includes base plus greenshoe for some issues
($1 = 90.8520 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)
Feb 20 (Reuters) - NHPC Ltd NHPC.NS:
NHPC - APPROVES 27.09 BILLION RUPEES INVESTMENT FOR URI-I STAGE-II PROJECT
NHPC - APPROVES 29.94 BILLION RUPEES INVESTMENT FOR DULHASTI STAGE-II PROJECT
Source text: ID:nNSE9hjg88
Further company coverage: NHPC.NS
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Feb 20 (Reuters) - NHPC Ltd NHPC.NS:
NHPC - APPROVES 27.09 BILLION RUPEES INVESTMENT FOR URI-I STAGE-II PROJECT
NHPC - APPROVES 29.94 BILLION RUPEES INVESTMENT FOR DULHASTI STAGE-II PROJECT
Source text: ID:nNSE9hjg88
Further company coverage: NHPC.NS
(([email protected];;))
Feb 4 (Reuters) - NHPC Ltd NHPC.NS:
NHPC DEC-QUARTER CONSOL NET PROFIT 2.19 BILLION RUPEES
NHPC DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 22.21 BILLION RUPEES
NHPC - DIVIDEND OF 1.40 RUPEES PER SHARE
NHPC - PROPOSAL FOR WITHDRAWAL OF NOMINEE DIRECTOR OF NHPC FROM BOARD OF PTC INDIA
Source text: [ID:]
Further company coverage: NHPC.NS
(([email protected];))
Feb 4 (Reuters) - NHPC Ltd NHPC.NS:
NHPC DEC-QUARTER CONSOL NET PROFIT 2.19 BILLION RUPEES
NHPC DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 22.21 BILLION RUPEES
NHPC - DIVIDEND OF 1.40 RUPEES PER SHARE
NHPC - PROPOSAL FOR WITHDRAWAL OF NOMINEE DIRECTOR OF NHPC FROM BOARD OF PTC INDIA
Source text: [ID:]
Further company coverage: NHPC.NS
(([email protected];))
Jan 30 (Reuters) - NHPC Ltd NHPC.NS:
DECLARES COMMERCIAL OPERATION OF UNIT #3 (250 MW)
Source text: ID:nBSE2YN1Y7
Further company coverage: NHPC.NS
(([email protected];))
Jan 30 (Reuters) - NHPC Ltd NHPC.NS:
DECLARES COMMERCIAL OPERATION OF UNIT #3 (250 MW)
Source text: ID:nBSE2YN1Y7
Further company coverage: NHPC.NS
(([email protected];))
NEW DELHI, Jan 27 (Reuters) - India will stop setting annual targets for clean energy tenders after missing last year's goal and building up a large backlog of projects without buyers, a senior government official said.
Indian developers are already sitting on the rights to build around 43 gigawatts of renewable power for which they have yet to find customers. State utilities have delayed buying clean power, expecting prices to fall and citing uncertainty over power delivery due to delays in transmission infrastructure.
India's clean energy ministry has asked renewable implementation agencies to find buyers for the power from those tenders, Reuters reported in November.
"As per their (implementation agencies') initial evaluation, they are still confident that they will be able to sell quite a lot of power out of that (backlog)," Santosh Kumar Sarangi, a top official at the Ministry of New and Renewable Energy, told Reuters in an interview.
Sarangi said less than half of the unsold capacity may be cancelled.
Against this backdrop, the government plans to change how clean energy tenders are issued, moving away from fixed annual targets. Instead, new tenders will be floated only after assessing demand from state power utilities, Sarangi said.
India had initially planned to auction about 50 GW of new clean energy capacity last year but ended up tendering only around 15 GW, after auctioning about 50 GW each in 2023 and 2024.
Despite the slowdown, Sarangi said India remains on track to meet its target of 500 GW of non-fossil fuel power capacity by 2030. The country added about 38 GW of clean energy capacity in 2025.
"We are not looking at a figure because we have pending bids that need to be finalised," Sarangi said, adding that agencies are engaging with state governments to assess demand.
The Ministry of New and Renewable Energy may also consider changes to the structure of renewable energy implementation agencies, he said.
Power producers NTPC NTPC.NS, NHPC NHPC.NS and SJVN SJVN.NS, which also act as federal renewable tendering agencies, could be relieved of that role, potentially leaving the Solar Energy Corp of India (SECI) as the main agency handling clean energy tenders.
The power producers have asked the government to relieve them from their role as implementation agencies and the government is evaluating the requests, the official said.
Among these agencies, NHPC has the largest volume of unsold tenders at about 15.8 GW, while SECI has the smallest at around 3.9 GW, according to a power ministry document reviewed by Reuters.
(Reporting by Sethuraman NR; editing by Mayank Bhardwaj)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
NEW DELHI, Jan 27 (Reuters) - India will stop setting annual targets for clean energy tenders after missing last year's goal and building up a large backlog of projects without buyers, a senior government official said.
Indian developers are already sitting on the rights to build around 43 gigawatts of renewable power for which they have yet to find customers. State utilities have delayed buying clean power, expecting prices to fall and citing uncertainty over power delivery due to delays in transmission infrastructure.
India's clean energy ministry has asked renewable implementation agencies to find buyers for the power from those tenders, Reuters reported in November.
"As per their (implementation agencies') initial evaluation, they are still confident that they will be able to sell quite a lot of power out of that (backlog)," Santosh Kumar Sarangi, a top official at the Ministry of New and Renewable Energy, told Reuters in an interview.
Sarangi said less than half of the unsold capacity may be cancelled.
Against this backdrop, the government plans to change how clean energy tenders are issued, moving away from fixed annual targets. Instead, new tenders will be floated only after assessing demand from state power utilities, Sarangi said.
India had initially planned to auction about 50 GW of new clean energy capacity last year but ended up tendering only around 15 GW, after auctioning about 50 GW each in 2023 and 2024.
Despite the slowdown, Sarangi said India remains on track to meet its target of 500 GW of non-fossil fuel power capacity by 2030. The country added about 38 GW of clean energy capacity in 2025.
"We are not looking at a figure because we have pending bids that need to be finalised," Sarangi said, adding that agencies are engaging with state governments to assess demand.
The Ministry of New and Renewable Energy may also consider changes to the structure of renewable energy implementation agencies, he said.
Power producers NTPC NTPC.NS, NHPC NHPC.NS and SJVN SJVN.NS, which also act as federal renewable tendering agencies, could be relieved of that role, potentially leaving the Solar Energy Corp of India (SECI) as the main agency handling clean energy tenders.
The power producers have asked the government to relieve them from their role as implementation agencies and the government is evaluating the requests, the official said.
Among these agencies, NHPC has the largest volume of unsold tenders at about 15.8 GW, while SECI has the smallest at around 3.9 GW, according to a power ministry document reviewed by Reuters.
(Reporting by Sethuraman NR; editing by Mayank Bhardwaj)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
Jan 8 (Reuters) - NHPC Ltd NHPC.NS:
NHPC - BOARD APPROVES ISSUANCE OF BONDS UP TO 20 BILLION RUPEES
Source text: ID:nBSE6ktbXJ
Further company coverage: NHPC.NS
(([email protected];))
Jan 8 (Reuters) - NHPC Ltd NHPC.NS:
NHPC - BOARD APPROVES ISSUANCE OF BONDS UP TO 20 BILLION RUPEES
Source text: ID:nBSE6ktbXJ
Further company coverage: NHPC.NS
(([email protected];))
Dec 29 (Reuters) - NHPC Ltd NHPC.NS:
SHAREHOLDING IN RATLE HYDROELECTRIC POWER CORP CHANGED FROM 59.51% TO 49.72%
Source text: ID:nNSE8FwqbT
Further company coverage: NHPC.NS
(([email protected];))
Dec 29 (Reuters) - NHPC Ltd NHPC.NS:
SHAREHOLDING IN RATLE HYDROELECTRIC POWER CORP CHANGED FROM 59.51% TO 49.72%
Source text: ID:nNSE8FwqbT
Further company coverage: NHPC.NS
(([email protected];))
NEW DELHI, Oct 13 (Reuters) - India's power planning authority has drawn up a 6.4 trillion rupees ($77 billion) transmission plan to move more than 76 gigawatts of hydroelectric capacity from the Brahmaputra basin by 2047 to meet rising electricity demand, the Central Electricity Authority (CEA) said on Monday.
In a report released on Monday, the CEA said the plan covers 208 large hydro projects across 12 sub‑basins in the northeastern states, with 64.9 GW of potential capacity and an additional 11.1 GW from pumped‑storage plants.
The Brahmaputra River, which rises in Tibet, China, and flows through India and Bangladesh, holds significant hydro potential in its Indian stretch, particularly in Arunachal Pradesh on the China border.
The basin's transboundary nature and proximity to China make water management and infrastructure planning a strategic concern, amid India's fears that a Chinese dam on the Yarlung Zangbo, the river's upper course before it enters India, could cut dry‑season flows on the Indian side by up to 85%.
The Brahmaputra basin spans parts of Arunachal Pradesh, Assam, Sikkim, Mizoram, Meghalaya, Manipur, Nagaland and West Bengal, and holds more than 80% of India's untapped hydro potential, the report said, with Arunachal Pradesh alone accounting for 52.2 GW.
Phase one of the plan, running to 2035, will require 1.91 trillion rupees, while phase two will cost 4.52 trillion rupees, according to the CEA.
The CEA's plan also includes projects allocated to central public sector utilities such as NHPC NHPC.NS , NEEPCO, and SJVN SJVN.NS, with some projects already in the pipeline.
India aims to reduce its dependence on fossil fuels by having 500 GW of non-fossil power generation capacity by 2030 and becoming net zero by 2070.
(Reporting by Sethuraman NR; Editing by Tasim Zahid)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
NEW DELHI, Oct 13 (Reuters) - India's power planning authority has drawn up a 6.4 trillion rupees ($77 billion) transmission plan to move more than 76 gigawatts of hydroelectric capacity from the Brahmaputra basin by 2047 to meet rising electricity demand, the Central Electricity Authority (CEA) said on Monday.
In a report released on Monday, the CEA said the plan covers 208 large hydro projects across 12 sub‑basins in the northeastern states, with 64.9 GW of potential capacity and an additional 11.1 GW from pumped‑storage plants.
The Brahmaputra River, which rises in Tibet, China, and flows through India and Bangladesh, holds significant hydro potential in its Indian stretch, particularly in Arunachal Pradesh on the China border.
The basin's transboundary nature and proximity to China make water management and infrastructure planning a strategic concern, amid India's fears that a Chinese dam on the Yarlung Zangbo, the river's upper course before it enters India, could cut dry‑season flows on the Indian side by up to 85%.
The Brahmaputra basin spans parts of Arunachal Pradesh, Assam, Sikkim, Mizoram, Meghalaya, Manipur, Nagaland and West Bengal, and holds more than 80% of India's untapped hydro potential, the report said, with Arunachal Pradesh alone accounting for 52.2 GW.
Phase one of the plan, running to 2035, will require 1.91 trillion rupees, while phase two will cost 4.52 trillion rupees, according to the CEA.
The CEA's plan also includes projects allocated to central public sector utilities such as NHPC NHPC.NS , NEEPCO, and SJVN SJVN.NS, with some projects already in the pipeline.
India aims to reduce its dependence on fossil fuels by having 500 GW of non-fossil power generation capacity by 2030 and becoming net zero by 2070.
(Reporting by Sethuraman NR; Editing by Tasim Zahid)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
Adds details in paragraphs 2-9
NEW DELHI, Sept 22 (Reuters) - The Indian government is planning to sell minority stakes in about half a dozen state-run companies, divestment secretary Arunish Chawla told television channel CNBC-TV18 on Monday.
Chawla did not disclose which companies will be considered for the sale of stakes, but Reuters has previously reported that India has plans to sell shares in five public sector banks including UCO BankUCBK.NS and Bank of MaharashtraBMBK.NS.
India also has to reduce its shareholding in the country's largest insurer, Life Insurance Corporation of India LIFI.NS, to meet the market regulator's minimum public shareholding norms.
Chawla said the government will make an initial public offering (IPO) of a state-run firm in the natural resources sector in the current financial year. The IPO could be of a state-run company or their subsidiaries, he added.
Chawla did not name the company, but ONGC ONGC.NS and NHPC NHPC.NS have been exploring listing of their green arms, ONGC Green Energy and NHPC Renewable Energy, respectively.
Minority stake sales and IPOs will help boost divestment proceeds for the government. India plans to raise 470 billion rupees through stake sales and asset monetisation in the current financial year through March 31, 2026.
India's receipts from dividends it receives from public sector companies would exceed its projected target, Chawla said. India has estimated 690 billion rupees ($7.83 billion) through dividends from state-run firms in the current financial year.
($1 = 88.1363 Indian rupees)
(Reporting by Nikunj Ohri, Editing by YP Rajesh & Shri Navaratnam)
Adds details in paragraphs 2-9
NEW DELHI, Sept 22 (Reuters) - The Indian government is planning to sell minority stakes in about half a dozen state-run companies, divestment secretary Arunish Chawla told television channel CNBC-TV18 on Monday.
Chawla did not disclose which companies will be considered for the sale of stakes, but Reuters has previously reported that India has plans to sell shares in five public sector banks including UCO BankUCBK.NS and Bank of MaharashtraBMBK.NS.
India also has to reduce its shareholding in the country's largest insurer, Life Insurance Corporation of India LIFI.NS, to meet the market regulator's minimum public shareholding norms.
Chawla said the government will make an initial public offering (IPO) of a state-run firm in the natural resources sector in the current financial year. The IPO could be of a state-run company or their subsidiaries, he added.
Chawla did not name the company, but ONGC ONGC.NS and NHPC NHPC.NS have been exploring listing of their green arms, ONGC Green Energy and NHPC Renewable Energy, respectively.
Minority stake sales and IPOs will help boost divestment proceeds for the government. India plans to raise 470 billion rupees through stake sales and asset monetisation in the current financial year through March 31, 2026.
India's receipts from dividends it receives from public sector companies would exceed its projected target, Chawla said. India has estimated 690 billion rupees ($7.83 billion) through dividends from state-run firms in the current financial year.
($1 = 88.1363 Indian rupees)
(Reporting by Nikunj Ohri, Editing by YP Rajesh & Shri Navaratnam)
Sept 4 (Reuters) - NHPC Ltd NHPC.NS:
NHPC LTD - APPOINTS BHUPENDER GUPTA AS CHAIRMAN & MANAGING DIRECTOR
Source text: ID:nBSE8NYC8j
Further company coverage: NHPC.NS
(([email protected];;))
Sept 4 (Reuters) - NHPC Ltd NHPC.NS:
NHPC LTD - APPOINTS BHUPENDER GUPTA AS CHAIRMAN & MANAGING DIRECTOR
Source text: ID:nBSE8NYC8j
Further company coverage: NHPC.NS
(([email protected];;))
Sept 1 (Reuters) - NHPC Ltd NHPC.NS:
MINISTRY OF POWER GRANTS APPROVAL TO ENTRUST SANJAY KUMAR SINGH AS CHAIRMAN, MD
Source text: ID:nBSE2nxrYT
Further company coverage: NHPC.NS
(([email protected];;))
Sept 1 (Reuters) - NHPC Ltd NHPC.NS:
MINISTRY OF POWER GRANTS APPROVAL TO ENTRUST SANJAY KUMAR SINGH AS CHAIRMAN, MD
Source text: ID:nBSE2nxrYT
Further company coverage: NHPC.NS
(([email protected];;))
India fears Chinese dam will reduce flow on major river by up to 85% in dry season
Delhi says a mega dam of its own will mitigate risks, but faces heavy local resistance
Beijing building world's largest dam upstream of India, but says it won't divert water
By Sarita Chaganti Singh and Krishna N. Das
PARONG, India, Aug 25 (Reuters) - India fears a planned Chinese mega-dam in Tibet will reduce water flows on a major river by up to 85% during the dry season, according to four sources familiar with the matter and a government analysis seen by Reuters, prompting Delhi to fast-track plans for its own dam to mitigate the effects.
The Indian government has been considering projects since the early 2000s to control the flow of water from Tibet's Angsi Glacier, which sustains more than 100 million people downstream in China, India and Bangladesh. But the plans have been hindered by fierce and occasionally violent resistance from residents of the border state of Arunachal Pradesh, who fear their villages will be submerged and way of life destroyed by any dam.
Then in December, China announced that it would build the world's largest hydropower dam in a border county just before the Yarlung Zangbo river crosses into India. That triggered fears in New Delhi that its longtime strategic rival - which has some territorial claims in Arunachal Pradesh - could weaponize its control of the river, which originates in the Angsi Glacier and is known as the Siang and Brahmaputra in India.
India's largest hydropower company in May moved survey materials under armed police protection near a prospective site of the Upper Siang Multipurpose Storage Dam, which would be the country's biggest dam, if completed. Senior Indian officials have also been holding meetings about accelerating construction this year, including one organized in July by Prime Minister Narendra Modi's office, according to two of the sources, who spoke on condition of anonymity to discuss sensitive government matters.
Delhi's concerns were described in the undated Indian government analysis of the Chinese dam's impact, the specifics of which Reuters corroborated with four sources and is reporting for the first time.
Beijing hasn't released detailed plans about the dam's construction, but the analysis drew on past work conducted by Indian government-affiliated institutions like the Central Water Commission and accounted for the expected size of the Chinese project, which broke ground in July and will cost nearly $170 billion.
Delhi estimates the Chinese dam will allow Beijing to divert as much as 40 billion cubic meters of water, or just over a third of what is received annually at a key border point, according to the sources and the document. The impact would be especially acute in the non-monsoon months, when temperatures rise and lands become barren across swathes of India.
The Upper Siang project would alleviate that with its projected 14 BCM of storage capacity, allowing India to release water during the dry season. That could mean the major regional city of Guwahati, which is dependent on water-intensive industry and farming, would see a reduction in supply of 11%, according to the sources and the document, as opposed to 25% if the Indian dam isn't built.
The project could also mitigate any move by Beijing to release devastating torrents of water downstream, the sources said.
If the dam is at its minimum drawdown level - where water is stored at less than 50% of its height - it would be able to fully absorb any excess water released from a breach in Chinese infrastructure, according to the document and the sources. India is considering a proposal to keep 30% of its dam empty at any time in order to account for unexpected surges, two of the sources said.
A spokesperson for China's foreign ministry said in response to Reuters' questions that the hydropower projects "have undergone rigorous scientific research on safety and environmental protection, and will not adversely impact the water resources, ecology, or geology of downstream countries."
"China has always maintained a responsible attitude toward the development and utilization of transboundary rivers, and has maintained long-term communication and cooperation with downstream countries such as India and Bangladesh," the spokesperson added.
Modi's office and the Indian ministries responsible for water and external affairs did not respond to Reuters' questions. State-owned hydropower major NHPC also did not return a request for comment.
India's foreign ministry has said that top diplomat S. Jaishankar raised concerns about the dam during a meeting with his Chinese counterpart on Aug. 18. A Jaishankar deputy also told lawmakers in August that the government was implementing measures to safeguard the lives and livelihoods of citizens in downstream areas, including building the dam.
India has itself been accused by Pakistan, a Chinese ally that it briefly clashed with in May, of weaponizing water. Delhi this year suspended its participation in a 1960 water-sharing treaty with Islamabad and is considering diverting flows from another crucial river away from its downstream neighbour.
An international tribunal has ruled that India must adhere to the agreement but Delhi says the panel lacks jurisdiction.
DEVELOPMENT OR DESTRUCTION?
When NHPC workers moved surveying materials near the village of Parong in May, angry locals damaged their machinery, destroyed a nearby bridge and looted the tents of police sent to guard the operation.
Many of them are members of Arunachal's Adi community, who live off paddy, orange and sweet lime farms in the mist-shrouded hills and valleys nourished by the Siang.
The villagers have set up makeshift watch posts on regional roads to deny access to NHPC workers. That has forced security personnel to trek miles, often under cover of night, to reach a prospective site of the dam.
At least 16 Adi villages are likely to be lost to the storage area of the dam, directly affecting an estimated 10,000 people, according to two of the sources. Community leaders say more than 100,000 people will be impacted overall.
"The cardamom, paddy, jackfruit and pear we grow on this land help educate our children and support our family," said Odoni Palo Pabin, an Adi grocer and mother of two. "We will fight the dam to death."
The dam has the support of Arunachal's chief minister, who is a member of Modi's party and has called the Chinese project an existential threat.
The project will "ensure water security and provide flood moderation to counter any potential water surges," the state government said in a statement, adding that it decided in June to engage in detailed compensation discussions with families that could be affected by the dam.
Lawmaker Alo Libang, an Adi who represents an area that would be submerged by the Indian project, said he believed locals could be convinced to move if they received generous compensation.
NHPC has plans to spend more than $3 million on education and emergency infrastructure to incentivize the villagers to move elsewhere, three of the sources said, citing instructions from Modi's office.
In one sign of progress, three villages in the area recently agreed to let NHPC officials carry out dam-related work, according to the Arunachal government and dozens of locals.
India has a history of activist movements against large dams, which have sometimes slowed these projects by years or forced them to scale down.
Even if the Upper Siang dam gets the go-ahead, it could take a decade to build after breaking ground, according to four of the sources. That means the project would likely be completed after China's project, which Beijing expects to start generating power by the early-to-mid 2030s.
The delay means an Indian project would be vulnerable during construction if Beijing suddenly releases water during the monsoon season, triggering a surge that could wash away temporary dams, two of the sources said.
International experts and Adi activists have also warned that building large dams in seismically active Tibet and Arunachal could heighten risks for downstream communities.
The Chinese "dam is being built in a zone of high seismicity and in a zone that experiences extreme weather events," said Sayanangshu Modak, an expert on the India-China water relationship at the University of Arizona.
"These kinds of extreme weather events trigger landslides, mudslides, glacial lake outburst flooding," he said. "So that raises concerns about dam safety... it's a very legitimate concern and India should engage with China."
China's new mega dam pushes India to respond with its own: China's new mega dam pushes India to respond with its own https://reut.rs/3JnNzO1
(Reporting by Sarita Chaganti Singh in New Delhi and Krishna N. Das in Arunachal Pradesh; Additional reporting by Laurie Chen in Beijing and David Stanway in Singapore; Graphics by Jitesh Chowdhury; Editing by Katerina Ang)
India fears Chinese dam will reduce flow on major river by up to 85% in dry season
Delhi says a mega dam of its own will mitigate risks, but faces heavy local resistance
Beijing building world's largest dam upstream of India, but says it won't divert water
By Sarita Chaganti Singh and Krishna N. Das
PARONG, India, Aug 25 (Reuters) - India fears a planned Chinese mega-dam in Tibet will reduce water flows on a major river by up to 85% during the dry season, according to four sources familiar with the matter and a government analysis seen by Reuters, prompting Delhi to fast-track plans for its own dam to mitigate the effects.
The Indian government has been considering projects since the early 2000s to control the flow of water from Tibet's Angsi Glacier, which sustains more than 100 million people downstream in China, India and Bangladesh. But the plans have been hindered by fierce and occasionally violent resistance from residents of the border state of Arunachal Pradesh, who fear their villages will be submerged and way of life destroyed by any dam.
Then in December, China announced that it would build the world's largest hydropower dam in a border county just before the Yarlung Zangbo river crosses into India. That triggered fears in New Delhi that its longtime strategic rival - which has some territorial claims in Arunachal Pradesh - could weaponize its control of the river, which originates in the Angsi Glacier and is known as the Siang and Brahmaputra in India.
India's largest hydropower company in May moved survey materials under armed police protection near a prospective site of the Upper Siang Multipurpose Storage Dam, which would be the country's biggest dam, if completed. Senior Indian officials have also been holding meetings about accelerating construction this year, including one organized in July by Prime Minister Narendra Modi's office, according to two of the sources, who spoke on condition of anonymity to discuss sensitive government matters.
Delhi's concerns were described in the undated Indian government analysis of the Chinese dam's impact, the specifics of which Reuters corroborated with four sources and is reporting for the first time.
Beijing hasn't released detailed plans about the dam's construction, but the analysis drew on past work conducted by Indian government-affiliated institutions like the Central Water Commission and accounted for the expected size of the Chinese project, which broke ground in July and will cost nearly $170 billion.
Delhi estimates the Chinese dam will allow Beijing to divert as much as 40 billion cubic meters of water, or just over a third of what is received annually at a key border point, according to the sources and the document. The impact would be especially acute in the non-monsoon months, when temperatures rise and lands become barren across swathes of India.
The Upper Siang project would alleviate that with its projected 14 BCM of storage capacity, allowing India to release water during the dry season. That could mean the major regional city of Guwahati, which is dependent on water-intensive industry and farming, would see a reduction in supply of 11%, according to the sources and the document, as opposed to 25% if the Indian dam isn't built.
The project could also mitigate any move by Beijing to release devastating torrents of water downstream, the sources said.
If the dam is at its minimum drawdown level - where water is stored at less than 50% of its height - it would be able to fully absorb any excess water released from a breach in Chinese infrastructure, according to the document and the sources. India is considering a proposal to keep 30% of its dam empty at any time in order to account for unexpected surges, two of the sources said.
A spokesperson for China's foreign ministry said in response to Reuters' questions that the hydropower projects "have undergone rigorous scientific research on safety and environmental protection, and will not adversely impact the water resources, ecology, or geology of downstream countries."
"China has always maintained a responsible attitude toward the development and utilization of transboundary rivers, and has maintained long-term communication and cooperation with downstream countries such as India and Bangladesh," the spokesperson added.
Modi's office and the Indian ministries responsible for water and external affairs did not respond to Reuters' questions. State-owned hydropower major NHPC also did not return a request for comment.
India's foreign ministry has said that top diplomat S. Jaishankar raised concerns about the dam during a meeting with his Chinese counterpart on Aug. 18. A Jaishankar deputy also told lawmakers in August that the government was implementing measures to safeguard the lives and livelihoods of citizens in downstream areas, including building the dam.
India has itself been accused by Pakistan, a Chinese ally that it briefly clashed with in May, of weaponizing water. Delhi this year suspended its participation in a 1960 water-sharing treaty with Islamabad and is considering diverting flows from another crucial river away from its downstream neighbour.
An international tribunal has ruled that India must adhere to the agreement but Delhi says the panel lacks jurisdiction.
DEVELOPMENT OR DESTRUCTION?
When NHPC workers moved surveying materials near the village of Parong in May, angry locals damaged their machinery, destroyed a nearby bridge and looted the tents of police sent to guard the operation.
Many of them are members of Arunachal's Adi community, who live off paddy, orange and sweet lime farms in the mist-shrouded hills and valleys nourished by the Siang.
The villagers have set up makeshift watch posts on regional roads to deny access to NHPC workers. That has forced security personnel to trek miles, often under cover of night, to reach a prospective site of the dam.
At least 16 Adi villages are likely to be lost to the storage area of the dam, directly affecting an estimated 10,000 people, according to two of the sources. Community leaders say more than 100,000 people will be impacted overall.
"The cardamom, paddy, jackfruit and pear we grow on this land help educate our children and support our family," said Odoni Palo Pabin, an Adi grocer and mother of two. "We will fight the dam to death."
The dam has the support of Arunachal's chief minister, who is a member of Modi's party and has called the Chinese project an existential threat.
The project will "ensure water security and provide flood moderation to counter any potential water surges," the state government said in a statement, adding that it decided in June to engage in detailed compensation discussions with families that could be affected by the dam.
Lawmaker Alo Libang, an Adi who represents an area that would be submerged by the Indian project, said he believed locals could be convinced to move if they received generous compensation.
NHPC has plans to spend more than $3 million on education and emergency infrastructure to incentivize the villagers to move elsewhere, three of the sources said, citing instructions from Modi's office.
In one sign of progress, three villages in the area recently agreed to let NHPC officials carry out dam-related work, according to the Arunachal government and dozens of locals.
India has a history of activist movements against large dams, which have sometimes slowed these projects by years or forced them to scale down.
Even if the Upper Siang dam gets the go-ahead, it could take a decade to build after breaking ground, according to four of the sources. That means the project would likely be completed after China's project, which Beijing expects to start generating power by the early-to-mid 2030s.
The delay means an Indian project would be vulnerable during construction if Beijing suddenly releases water during the monsoon season, triggering a surge that could wash away temporary dams, two of the sources said.
International experts and Adi activists have also warned that building large dams in seismically active Tibet and Arunachal could heighten risks for downstream communities.
The Chinese "dam is being built in a zone of high seismicity and in a zone that experiences extreme weather events," said Sayanangshu Modak, an expert on the India-China water relationship at the University of Arizona.
"These kinds of extreme weather events trigger landslides, mudslides, glacial lake outburst flooding," he said. "So that raises concerns about dam safety... it's a very legitimate concern and India should engage with China."
China's new mega dam pushes India to respond with its own: China's new mega dam pushes India to respond with its own https://reut.rs/3JnNzO1
(Reporting by Sarita Chaganti Singh in New Delhi and Krishna N. Das in Arunachal Pradesh; Additional reporting by Laurie Chen in Beijing and David Stanway in Singapore; Graphics by Jitesh Chowdhury; Editing by Katerina Ang)
Aug 21 (Reuters) - NHPC Ltd NHPC.NS:
TO CONSIDER REVISED BORROWING PLAN FOR 2025-26
Source text: ID:nBSE6kPdq7
Further company coverage: NHPC.NS
(([email protected];;))
Aug 21 (Reuters) - NHPC Ltd NHPC.NS:
TO CONSIDER REVISED BORROWING PLAN FOR 2025-26
Source text: ID:nBSE6kPdq7
Further company coverage: NHPC.NS
(([email protected];;))
Aug 12 (Reuters) - NHPC Ltd NHPC.NS:
NHPC JUNE-QUARTER CONSOL NET PROFIT 10.65 BILLION RUPEES
NHPC JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 32.14 BILLION RUPEES
Source text: [ID:]
Further company coverage: NHPC.NS
(([email protected];))
Aug 12 (Reuters) - NHPC Ltd NHPC.NS:
NHPC JUNE-QUARTER CONSOL NET PROFIT 10.65 BILLION RUPEES
NHPC JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 32.14 BILLION RUPEES
Source text: [ID:]
Further company coverage: NHPC.NS
(([email protected];))
MUMBAI, Aug 8 (Reuters) - India's NHPC NHPC.NS accepted bids worth 20 billion rupees ($228.05 million) for bonds maturing in two years, three bankers said on Friday.
It will pay a coupon of 6.40%, and had invited commitment bids for the issue earlier in the day, they said.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on August 8:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
NHPC | 2 years | 6.40 | 20 | August 8 | AAA (Care, India Rating) |
GMR Airports | 18 months | To be decided | 15 | August 11 | A+ (Crisil) |
GMR Airports | 3 years | To be decided | 44 | August 11 | A+ (Crisil) |
PGC | 10 years | To be decided | 10+40 | August 11 | AAA (Crisil, Care, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 87.7000 Indian rupees)
(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Harikrishnan Nair)
MUMBAI, Aug 8 (Reuters) - India's NHPC NHPC.NS accepted bids worth 20 billion rupees ($228.05 million) for bonds maturing in two years, three bankers said on Friday.
It will pay a coupon of 6.40%, and had invited commitment bids for the issue earlier in the day, they said.
The company did not respond to a Reuters email seeking comment.
Here is the list of deals reported so far on August 8:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
NHPC | 2 years | 6.40 | 20 | August 8 | AAA (Care, India Rating) |
GMR Airports | 18 months | To be decided | 15 | August 11 | A+ (Crisil) |
GMR Airports | 3 years | To be decided | 44 | August 11 | A+ (Crisil) |
PGC | 10 years | To be decided | 10+40 | August 11 | AAA (Crisil, Care, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 87.7000 Indian rupees)
(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Harikrishnan Nair)
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Popular questions
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What does NHPC do?
NHPC is the largest hydropower development organization in India, with capabilities to undertake all the activities from conceptualization to commissioning of hydro projects. The company has also diversified in the field of Solar & Wind energy development etc.
Who are the competitors of NHPC?
NHPC major competitors are Torrent Power, JSW Energy, Tata Power, NLC India, SJVN, Nava, JP Power Ventures. Market Cap of NHPC is ₹76,644 Crs. While the median market cap of its peers are ₹36,642 Crs.
Is NHPC financially stable compared to its competitors?
NHPC seems to be less financially stable compared to its competitors. Altman Z score of NHPC is 1.08 and is ranked 7 out of its 8 competitors.
Does NHPC pay decent dividends?
The company seems to pay a good stable dividend. NHPC latest dividend payout ratio is 42.95% and 3yr average dividend payout ratio is 53.28%
How has NHPC allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery
How strong is NHPC balance sheet?
NHPC balance sheet is weak and might have solvency issues
Is the profitablity of NHPC improving?
Yes, profit is increasing. The profit of NHPC is ₹4,264 Crs for TTM, ₹3,766 Crs for Mar 2026 and ₹3,007 Crs for Mar 2025.
Is the debt of NHPC increasing or decreasing?
Yes, The net debt of NHPC is increasing. Latest net debt of NHPC is ₹44,832 Crs as of Mar-26. This is greater than Mar-25 when it was ₹33,932 Crs.
Is NHPC stock expensive?
Yes, NHPC is expensive. Latest PE of NHPC is 20.19, while 3 year average PE is 20.11. Also latest EV/EBITDA of NHPC is 21.62 while 3yr average is 18.47.
Has the share price of NHPC grown faster than its competition?
NHPC has given lower returns compared to its competitors. NHPC has grown at ~10.54% over the last 10yrs while peers have grown at a median rate of 16.17%
Is the promoter bullish about NHPC?
Promoters seem not to be bullish about the company and have been selling shares in the open market. Latest quarter promoter holding in NHPC is 61.39% and last quarter promoter holding is 67.4%
Are mutual funds buying/selling NHPC?
The mutual fund holding of NHPC is increasing. The current mutual fund holding in NHPC is 6.85% while previous quarter holding is 3.92%.