On October 28, 2024, NHPC shares edged up slightly amid broader market gains, trading at ₹78.98, which represents an increase of 0.61% from the previous closing price. The performance of NHPC was consistent with the overall market trend, as both the Nifty and Sensex indices reported positive movements, contributing to a buoyant atmosphere in the Indian stock market.
| Table of Contents |
|---|
| NHPC Share Price Details |
| Technical Analysis of NHPC |
| Market Context |
| Fundamental Analysis of NHPC |
| Conclusion |
NHPC Share Price Details
Current Price: NHPC shares are trading at ₹78.98, reflecting a rise of 0.61% from the previous closing price.
Intraday Price Movement:
- Opening Price: ₹79.19
- Closing Price: ₹78.98
- Daily High: ₹80.09
- Daily Low: ₹77.68
Volume: Trading volume on both NSE and BSE was observed to be 14.46% lower than the previous trading session.
Technical Analysis of NHPC
Moving Averages: NHPC is currently trading below its short-term (5, 10, 20 days) and long-term (50, 100, 300 days) simple moving averages, suggesting a potential downtrend in the stock’s performance.
Resistance Levels: On a daily time frame, significant resistance levels are identified at:
| Resistance Levels |
|---|
| ₹80.11 |
| ₹81.30 |
| ₹82.51 |
Support Levels: Key supports are at:
| Support Levels |
|---|
| ₹77.71 |
| ₹76.50 |
| ₹75.31 |
Market Context
The benchmark indices are showcasing positive performance, with the Nifty up by 0.65% and the Sensex rising by 0.76%. This broad market gain is encouraging for investors, contributing to the upward movement of NHPC’s shares amidst a relatively mixed performance from its peers.
Stocks such as JSW Energy and Torrent Power have shown declines, while SJVN and NLC India witnessed increases in their share prices, indicating a diverse outlook across the energy sector.
Fundamental Analysis of NHPC
Return on Equity (ROE): NHPC’s current ROE stands at 9.58%, indicating a fair level of profitability in terms of shareholder equity.
Price-to-Earnings (P/E) Ratio: The P/E ratio for NHPC is presently at 21.82, suggesting the stock is potentially valued at a premium based on its earnings.
Future Outlook: Analysts predict a median 1-year forecast with an upside potential of 22.82% and a target price of ₹97.00.
Shareholding Distribution:
- Promoter Holding: 0.00%
- Mutual Fund Holding: 4.99%, decreased from 5.22% in June.
- Foreign Institutional Investor (FII) Holding: Increased to 9.38%, up from 8.96% in June.
Conclusion
In conclusion, while NHPC shares have displayed a slight increase amidst broader market gains, the stock is under technical pressure given its positioning relative to key moving averages and resistance support levels. Investors should remain vigilant and monitor future developments in stock movements against the backdrop of market trends and comparative peer performance to strategize their investments effectively.
FAQ
1. What factors influence NHPC’s share price?
Various factors such as market trends, technical indicators, and the performance of peer companies can impact NHPC’s share price.
2. What is the significance of the P/E ratio?
The P/E ratio gives investors an indication of how much they are paying for each unit of earnings, helping to assess the valuation of the stock.
3. Why is return on equity (ROE) important?
ROE measures a company’s ability to generate profits from shareholders’ equity, indicating financial performance and operational efficiency.
