NHPC shares jump 2% after board clears Rs 10,000 crore borrowing plan

Shares of state-owned NHPC Ltd rose 2% to Rs 78.80 on Monday after the hydropower company approved a revised borrowing plan of up to Rs 10,000 crore for the current fiscal year.

The company stated that its board has approved the fundraising program for FY26, which will be implemented through bonds, term loans, or external commercial borrowings in multiple tranches. NHPC said the proceeds will be used to finance ongoing and future projects.

Recent earnings performance

NHPC had reported a 4.2% year-on-year rise in consolidated profit for the quarter ended June. Net profit stood at Rs 1,065.02 crore compared with Rs 1,021.77 crore in the same quarter of the previous fiscal, the company disclosed in a stock exchange filing in August.

Revenue rose 19.3% year-on-year to Rs 3,213.77 crore in the quarter, while operating income, measured as earnings before interest, taxes, depreciation and amortisation, increased 12% to Rs 1,801.51 crore. The company’s EBITDA margin, however, narrowed to 56.1%.

Stock under pressure

Despite the operational growth, NHPC shares have been under pressure this year. The stock has dropped nearly 6% in 2025 so far, including an 11% slide in the past three months. Over the last 12 months, shares have fallen 19% and are down 4% in the past week alone.

Technical outlook

On the technical front, the stock is trading below all of its eight key simple moving averages, including the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day averages, which indicates a bearish undertone across both short-term and long-term charts.

The Relative Strength Index stands at 29.5, a level considered oversold, which could imply a possible rebound. Meanwhile, the Moving Average Convergence Divergence indicator remains at -1.7, below both the center and signal lines, reinforcing the prevailing negative trend.

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