In a BSE filing, the company said it has raised Rs 1,500 crore through private placement of secured, redeemable, taxable, non-cumulative, non-convertible 7.13 per cent NHPC AA Series Bonds.
Total income rose to Rs 2,279.45 crore in the third quarter of 2019-20 from Rs 1,974.92 crore a year ago.
The board has approved raising the funds through various instruments.
As per a BSE filing by the company, its board will meet on December 28 to consider a proposal to raise the amount through issuance of corporate bonds on private placement basis or via a term loan or external commercial borrowing.
Its consolidated net profit was Rs 1,093.22 crore in the quarter ended on September 30, 2018, a BSE filing said.
NHPC Chairman and Managing Director Balraj Joshi handed over the dividend payout advice to Power Minister R K Singh here on Friday.
Net Sales are expected to decrease by 0.7 percent Y-o-Y (up 2.3 percent Q-o-Q) to Rs. 2,476.8 crore, according to Emkay.
Net Sales are expected to increase by 2.9 percent Y-o-Y (up 6.1 percent Q-o-Q) to Rs. 2,568 crore, according to Kotak.
The company would supply power at a levelised tariff of Rs 4.07 per unit and the project would be completed in next five years, NHPC Chairman and MD Balraj Joshi had said.
NHPC's board in its meeting on Tuesday approved the proposal to raise debt up to Rs 2,500 crore in 2019-20 through secured, redeemable, taxable, non-cumulative non-convertible taxable corporate bonds in one or more series or tranches on private placement basis .
NHPC will hire a consultant to assess feasibility of monetizing a few hydro assets via the limited tender route. NHPC posted a net profit of Rs 2,631 crore on a revenue of Rs 8,161 crore in 2018-19.
Developers of power projects are required to sign MoAs with the respective states for setting up plants in their territories.
Total income rose to Rs 2,754.48 crore in the quarter under review from Rs 2,479.09 crore a year ago.
Stocks which are likely to benefit the most include names like J&K Bank, NHPC, Bharat Dynamics, Bharat Electronics, L&T, Ashoka Buildcon, and GE T&D.
Net Sales are expected to increase by 9.3 percent Y-o-Y (up 19.3 percent Q-o-Q) to Rs. 2,327.7 crore, according to Kotak.
Total revenues rose to Rs 2,186.25 crore in March quarter compared to Rs 1.406.07 crore in the year-ago period.
Net Sales are expected to increase by 15.2 percent Y-o-Y (down 16.6 percent Q-o-Q) to Rs. 1,310 crore, according to Kotak.
The company's board, which met Friday, has approved raising of fund through external commercial borrowing (ECB) in JPY equivalent to $100 million from MUFG Bank to part finance the capital expenditure on on-going projects, other permissible activities, NHPC said in a regulatory filing.
The unsecured, redeemable, non-cumulative, non-convertible, taxable bonds will be issued in one or more tranches on a private placement basis in the domestic market, it added.
The Cabinet has also given its approval for the investment sanction for acquisition of Lanco Teesta Hydro Power (LTHPL) and execution of balance work of the Teesta Stage-VI hydro electric project by NHPC in Sikkim.
Briefing reporters on the decision taken by the Union Cabinet headed by Prime Minister Narendra Modi, he said NHPC has also been allowed to spend Rs 574.04 crore to complete balance work at the project.
The board of directors of the company in its 422nd meeting held on February 8 had declared an interim dividend at the rate of Rs 0.71 per equity share i.e. 7.10 per cent of the face value.
Motilal Oswal is bullish on NHPC has recommended buy rating on the stock with a target price of Rs 32 in its research report dated February 08, 2019.