NHPC is expected to move to Rs 33-34
Few technical and fundamental analysts believe that the power as a sector is one of the sectors that embrace biggest set of problems. These set of problems do not seem to be going anywhere. So it can be recommended that one can switch to another stock or another sector altogether. It is alright if you hold on to NHPC, from the perspective of price. You might see levels of Rs 33-34. You can also switch the market completely to a different sector.
The National Hydroelectric Power Corporation is an Indian Hydropower generation company that was incorporated in the year 1975 with an authorized capital of Rs. 2000 million. It main objective is to plan, promote and organize an integrated and efficient development of hydroelectric power in all aspects. However, NHPC has expanded its objects to include other sources of energy like Solar, Geothermal, Tidal, Wind etc.
The share of the company touched its 52-week high Rs 34.50 and 52-week low Rs 25.60 on 22 June, 2017 and 27 December, 2016, respectively.
Currently, it is trading 19.28 percent below its 52-week high and 8.79 percent above its 52-week low