The brokerage firm has recommended betting on NHPC Limited shares.
NHPC Share Price: If you are thinking of betting in any power share then this can be useful news for you. The brokerage firm has recommended betting on NHPC Limited shares. Domestic brokerage house ICICI Direct has picked power PSU stock NHPC Ltd as a short-term earner. ICICI Direct is advising to buy NHPC for 3 months with a target price of Rs 132 per share. Let us tell you that due to buying by foreign investors, movement of monsoon and strong results of the company, the domestic stock market has reached a new record high. Amidst this market boom, Navratna-status company NHPC has given returns of more than 240 percent in the last two years.
what are the details
ICICI Direct has given a target of Rs 132 and stop loss of Rs 102 on NHPC shares. On July 12, the stock closed at Rs 113, down 0.92 per cent. There is a possibility of an increase of up to 17 percent in this stock from the current price. The brokerage says, “BSE Power Index is in an uptrend after several years of breakouts. Over the past six months, the stock’s price action has formed a cup-and-handle pattern, indicating a structural uptrend. The stock remains above its 50-day EMA from November 2023 and is now on the verge of a breakout after a period of consolidation.”
This share fell from ₹ 120 to ₹ 3, now it’s time to buy, LIC has 75 lakh shares.
Attention stock market investors, you will not be able to trade on BSE-NSE on July 17.
condition of shares
NHPC is a multibagger stock. The stock has increased by 9 percent this week, 12 percent in two weeks, 10 percent in one month, 22 percent in three months and 63 percent in six months. The stock has increased by more than 70 percent this year in 2024. In the last one year it has increased by 140 percent, in two years by 242 percent and in three years by 335 percent. Its 52-week high is Rs 117.80 and low is Rs 44.87. The market cap of the company is Rs 1,13,508.89 crore.
