Hydropower producer NHPC Ltd's shares are in the news today after the company announced that it has signed a memorandum of understanding (MoU) with the Maharashtra government's Department of Water Resources (WRD) to establish energy storage systems (pumped storage systems) as well as other renewable energy sources (such as solar/wind/hybrid) with a total capacity of 7,350 MW.

On Tuesday, NHPC stock closed 1.21% higher at Rs 99.04 on the BSE. The firm's market capitalization was at Rs 99,486 crore. The power sector stock has risen 97% in a year and 154.60% in two years.

NHPC stock saw a turnover of Rs 29.02 crore, with 29.47 lakh shares changing hands on the BSE. On July 15, 2024, the stock reached a record high of Rs 118.85 before falling to a 52-week low of Rs 48.48 on October 26, 2023.

NHPC Limited generates and sells bulk electricity to various utilities. The company's additional commercial operations include project management, construction contracts, consultant assignment services, and power trading. Salal, Dulhasti, Kishanganga, Nimoo Bazgo, Chutak, Baira Siul, Tanakpur, Dhauliganga, Rangit, Loktak, Indira Saga, Chamera - I, Uri - I, Chamera - II, and Omkareshwa are among the power plants owned by the firm.