NHPC Share Price

NHPC Ltd. (previously known as National Hydroelectric Power Corporation) is the leading hydropower company in India that achieved “Navratna” status in August 2024.  NHPC Ltd. deals with planning, development, and execution of hydro projects. In addition to this, NHPC has diversified into solar and wind energy to provide power to the state power utilities and to achieve the goal of integrated power developments in the country, thereby ensuring fuel and power security to India. NHPC share price, being listed in NSE and BSE, represents the stock market’s reaction to its business activities in the hydropower and renewable energy sectors.  

NHPC stock price mirrors the market reaction to the oper͏ational and government-regulated developments, such as trends in hydropower generation, the approval of tariffs by the Central Electricity Regulatory Commission (CERC), and long-term Power Purchase Agreements (PPAs) with the State Utilities. Monitoring the NHPC share price helps the market players comprehend the short-term market trends based on the aforementioned aspects.  

NHPC live share price shows the last traded price, bid price, ask price and the total volume of traded shares, giving an idea about the market response to project progress and government policy announcements. Monitoring NHPC live price, investors can make informed decision related to buying, selling or holding decisions for the NHPC stock, thus es͏tablishing the importance of the shares rela͏ted to the power sector. 

Furthermore, you can monitor the NHPC share price today to check how it is performing compared to other listed power generation companies and relevant market indices.  

NHPC Limited Company Fundamentals 

1. NHPC Limited Company Background 

NHPC Limited is India’s largest hydropower development organisation, with capabilities spanning all stages from conceptualization to commissioning of hydro projects. Its vision is “to be a global leading organization for sustainable development of clean power through competent, responsible and innovative values. NHPC’s total installed capacity as of October 14, 2025, stands at 8,332.90 MW, including 1,681.70 MW in joint ventures. NHPC also spearheads renewable energy initiatives as a designated Renewable Energy Implementing Agency (REIA) with 26,220 MW under various stages, a BESS Implementing Agency with 1,500 MWh allocated, and a participant in rooftop solarization schemes under PM Surya Ghar-Muft Bijli Yojna. It has established NHPC Renewable Energy Limited (NHPC REL) and is piloting green hydrogen technologies, including a 25 kWe pilot in Leh and e-mobility stations in Kargil and Chamba, reinforcing its leadership in sustainable energy solutions. 

2. NHPC Limited Company Product Lines 

• Hydroelectric Power Generation (Core Product): NHPC’s principal product is hydroelectric power. NHPC operates 23 hydroelectric stations with a total installed capacity in the range of thousands of megawatts, making it one of India’s largest hydro power producers. 
• Renewable Energy Generation (Solar & Wind): In recent years, NHPC has expanded into renewable energy sources beyond hydro 
• Electricity Trading: NHPC also participates in power trading. As a generator, the company not only sells its own electricity but can buy and sell power in shortterm markets. Power is traded on exchanges such as the Indian Energy Exchange (IEX) and through institutional channels. 
• Consultancy, Project Management & Engineering Services: NHPC leverages its technical expertise in hydropower to offer consultancy and engineering services beyond its own generation operations. NHPC’s Consultancy Services Division provides knowhow from concept to commissioning for other hydro and power projects. 
• Operation & Maintenance (O&M) Services: In addition to building power plants, NHPC provides operation and maintenance services. O&M contracts are offered to manage thirdparty hydroelectric or renewable power assets. 
• Carbon Credit & Environmental Service Products: As a renewable and clean energy producer, NHPC generates carbon credits under climaterelated mechanisms such as the Clean Development Mechanism (CDM).  

NHPC Limited Company Revenue Model 

NHPC generates revenue mainly from renewable hydropower via long-term PPAs with state utilities, complemented by solar, wind, consultancy, and construction services. Pumped storage systems add new revenue streams, leveraging its hydro expertise for diversification. 

Core Revenue Streams: 

• Bulk Power Sales: The main source, selling electricity from its massive hydro fleet to state distribution companies under long-term contracts. 
• Long-Term PPAs: Key for predictable cash flow and mitigating market risks, ensuring stable revenue.  

Diversification & Growth Areas: 

• Solar & Wind Power: Expanding capacity in solar and wind projects adds to their renewable energy portfolio. 
• Pumped Storage: Developing pumped storage systems to store energy and sell it at peak demand, adding significant revenue potential. 
• Consultancy & EPC: Offering project management, construction, and consultancy services for hydro and renewable projects. 
• Joint Ventures: Collaborating on new projects to leverage expertise and expand reach. 

NHPC Limited Geographic Presence 

NHPC Limited is a major Indian public sector company focused on hydroelectric power generation, with projects across multiple states in India and emerging international engagements. 

PanIndia Project Locations 

NHPC’s power stations and project sites are spread across many Indian states and Union Territories: 

• Jammu & Kashmir / Ladakh – Kishanganga Hydroelectric Project and other Himalayan region schemes 
• Himachal Pradesh – Multiple hydro stations and under-construction projects such as Parbati-II 
• Uttarakhand – Operational hydro projects 
• Arunachal Pradesh / Assam – Subansiri Lower Hydroelectric Project spanning both states 
• Sikkim – Teesta VI and other NHPC schemes 
• West Bengal – Teesta Low Dam – III and IV projects 
• Manipur – Tipaimukh Multipurpose Hydroelectric Project (planned) 
• Gujarat – Solar projects and renewable energy ventures 
• Odisha and Andhra Pradesh – Solar and hybrid renewable power projects under construction 
• Madhya Pradesh, Rajasthan, Tamil Nadu, Kerala – Subsidiary and joint venture hydro and renewable projects 

NHPC projects cover diverse terrains, including high mountains, plains, and coastal areas. 

Renewable and Non-Hydro Projects 

• Solar PV projects in Gujarat and Andhra Pradesh 
• Wind energy capacity additions in select regions 

Emerging International Presence 

• MoUs signed with Nepal for developing hydropower projects on the West Seti and Seti River 
• NHPC is exploring regional cross-border partnerships as part of its international expansion 

Subsidiaries and Joint Ventures 

• Operational assets and projects in West Bengal, Uttar Pradesh, Rajasthan, Madhya Pradesh, and other states through subsidiaries and joint ventures 

NHPC Limited Key Milestones 

• 1975-76: NHPC established as a government-backed hydropower initiative. 
• 1976-77: Took operational control of Loktak Hydroelectric Project (105 MW). 
• 1977-78: Baira Siul Project (180 MW) transferred to NHPC. 
• 1982-83: Baira Siul Power Station fully commissioned in Himachal Pradesh. 
• 1983-84: Commissioned Devighat project in Nepal; Loktak project completed ahead of schedule. 
• 1985-86: Set up technical training institute at Baira Siul. 
• 1986-87: Raised Rs. 143.64 crore via bonds; completed Nepal’s Nuwakot Electrification Project. 
• 1987-88: Launched satellite communication for inter-project connectivity. 
• 1989-90: Re-designated as a Schedule ‘A’ CPSE by the Indian government. 
• 1992-93: Introduced consultancy services; Tanakpur plant (120 MW) operational. 
• 1994-95: Took on tunnel works at Jawahar Tunnel, J&K; corporate office moved to Faridabad; Chamera-I (540 MW) commissioned. 
• 1995-96: Partnered with Bhutan for Kurichhu project (45 MW). 
• 1999-2000: Rangit hydropower plant (60 MW) in Sikkim operational. 
• 2000-01: Kurichhu’s units started early; signed MoUs with Madhya Pradesh and J&K. 
• 2002-03: Secured Rs. 2,500 crore financing from LIC; credit rating reaffirmed AAA. 
• 2004-05: Indira Sagar project (1,000 MW) brought online. 
• 2005-06: Implemented unified ERP system under “Project Kiran.” 
• 2007-08: Renamed NHPC Limited; major projects like Dulhasti (390 MW), Teesta-V (510 MW), Omkareshwar (520 MW) completed. 
• 2008-09: Gained Mini Ratna-I status; signed MoUs for Chenab Basin projects; co-established National Power Exchange Ltd. 
• 2011: Agreements with Russia’s JSC RusHydro; partnered with PTC India; MoUs with Odisha. 
• 2012: Chamera Unit-1 operational; new MoU with Ministry of Power. 
• 2014: Partnered with Kerala for solar projects; completed tunnel works for Kishanganga hydro plant. 
• 2016: Solar partnerships with Maharashtra; Teesta began production; proposed 600 MW solar project at Koyna. 
• 2017: PPAs executed for Teesta-IV and V; Unit-I at Parbati synchronized; board cleared CERC trading license proposal. 
• 2018: Expanded hydropower and renewable energy initiatives. 
• 2019: Took over Lanco Teesta Hydro Power Ltd.; signed power trading MoU with NLCIL. 
• 2020: Partnered with Cement Corporation of India for Dibang project power utilization 

Leadership 

• Bhupender Gupta; Chairman & Managing Director (CMD), NHPC Limited — assumed charge on 4 September 2025 
• Sanjay Kumar Singh; Director (Projects) — also held additional charge as Interim CMD from 1 September 2025 
• Mahesh Kumar Shama; Director (Finance) & Chief Financial Officer (CFO) — holding additional charge from 1 September 2025 
• Shri Uttam Lal; Director (Personnel) — senior personnel leadership within NHPC’s corporate office 
• Suprakash Adhikari; Director (Technical) — oversees technical and engineering functions 
• Santosh Kumar: Chief Vigilance Officer 

NHPC Limited Industry Perspective 

India’s renewable energy industry is set for strong expansion through 2025–2026 and beyond, driven by rising power demand, supportive policies, and lower solar and wind technology costs. Installed renewable capacity is projected to climb from around 220 GW in 2025 to 260–270 GW by 2026, with solar contributing the largest share. By 2030, renewable capacity is forecast to reach 450–500 GW, taking non-fossil sources to nearly 60% of India’s power capacity. This positions the sector for sustained double-digit growth over the next decade. 

NHPC stands to benefit from India’s renewable energy growth as installed capacity rises from 220 GW in 2025 to 260–270 GW by 2026 and 450–500 GW by 2030. Leveraging its hydro, solar, and wind expertise, NHPC can expand projects, participate in hybrid and storage-linked initiatives, and gain from supportive policies, cost reductions, and rising power demand. 

NHPC Limited Stock Market Presence: Listings & Index Representation 

NHPC Limited is a prominent entity in the Indian stock market, listed on major exchanges such as BSE (533278) and NSE (NHPC). The company was listed on BSE in 13 October 2005 and on NSE in 17 October 2005, following its successful public offering. Its inclusion in key indices like Nifty 500, Nifty 200, BSE 500, and sectoral indices such as Nifty Energy, BSE Power, and Nifty PSE highlights NHPC’s significance in India’s power and utilities sector. 

NHPC’s share price is closely monitored by both retail and institutional investors. Its presence in major indices reflects stable market capitalisation, regulatory compliance, and scale in hydropower and renewable energy. Being listed on NSE and BSE ensures liquidity, while inclusion in sectoral and large-cap indices supports benchmark tracking, portfolio allocation, and institutional holdings, making it a key stock in energy-focused and public sector investment portfolios. 

NHPC Share Price Overview 

NHPCs share price on NSE and BSE reflects its status as a leading public-sector hydropower and renewable energy company in India. Its stock performance is influenced by operational developments, project commissioning, tariff-based revenues, reservoir-driven generation changes, CERC approvals, and quarterly results. Investors often compare NHPC share price today with sectoral benchmarks like the Nifty Energy Index and other public-sector utilities to assess relative performance and market positioning within the energy sector. 

For instance, in March 2025, NHPC share price rose by around 2 % after its Board of Directors approved a borrowing plan to raise up to ₹6,300 crore, with the stock reaching an intraday high following the announcement of debt mobilisation for project funding. 

Conversely, NHPC share price has also shown sensitivity to quarterly financial results and operational performance. There have been periods when the share price fell even as a quarter’s profit rose, due to concerns about generation shortfalls linked to project disruptions or lower-than-expected reservoir levels. Such reactions illustrate how variations in power generation, profit metrics, and operational challenges can influence investor sentiment and the stock’s trading behaviour.  

In addition to operational and financial factors, corporate actions such as dividend announcements, bonus issues, stock splits, or rights issues can significantly influence NHPC share price movements in the short term. These events often impact investor sentiment and prompt increased trading activity immediately after the announcements. 

While short-term movements reflect events and announcements, longer-term valuation trends are visible through NHPC share price 52-week high and low, providing context beyond daily or weekly changes Highs reflect peak operational efficiency, positive tariff revisions, and strong market sentiment, while lows correspond to seasonal inflow constraints, project delays, or cautious trading. Tracking these levels helps investors understand historical NHPC stock price performance within the regulated hydropower sector, where generation output, project timelines, and sector conditions significantly influence valuations and provide context for assessing operational and market-driven fluctuations over time. 

In recent years, NHPC stock price has seen notable 52-week fluctuations reflecting power-sector developments and market sentiment. It hit a 52-week high of ~₹118.85 on 15 July 2024, driven by investor interest, optimism around project execution, and future generation capacity growth, with commentary highlighting the stock’s surge and sector outperformance. 

Conversely, NHPC shares hit a 52‑week low of ₹71.01 on 12 February 2025, a level reached amid subdued trading conditions. This low NHPC share price point occurred as investors reacted to a softer performance environment for power generation companies and caution around execution timelines for key hydropower projects, translating into downward pressure on the stock.  

NHPC Stock Performance and NHPC Share Price History 

NHPC stock performance reflects the trading behaviour of one of India’s major public-sector hydropower companies. The company operates largely under regulated revenue models and long-term infrastructure frameworks, which strongly influence NHPC share price history. Over time, NHPC stock price movements have been shaped by project commissioning, tariff approvals by the Central Electricity Regulatory Commission (CERC), capacity additions, and government policy support for renewable energy development. 

After listing in 2009, NHPC shares initially traded within a narrow range for several years, experiencing moderate appreciation at times. The early period from 2009 to 2013 showed volatility and intermittent declines, reflecting both broader market conditions and sector-specific influences. From 2015 onwards, the stock entered a more stable growth phase, with notable gains in 2016 and 2017. Momentum strengthened further between 2021 and 2023, supported by improved investor sentiment and clearer visibility of ongoing projects.  

Gains moderated in 2024, while the slight dip observed in 2025 so far indicates a period of consolidation following earlier strength rather than a fundamental change in the company’s operational performance. In the early 2020s, NHPC share price saw renewed upward momentum, reaching higher levels by 2023–2024 before entering this consolidation phase. Overall, the stock’s price behaviour has shown cyclical shifts that align with broader market conditions, sector developments, and long-term operational progress. 

NHPC’s stock has also been affected by the evolving timelines of major hydropower projects. Delays in commissioning projects such as Parbati II and Subansiri Lower have periodically weighed on investor sentiment, as postponements impact anticipated revenue flows and regulated equity growth. These developments highlight how execution schedules and regulatory updates continue to shape market expectations and NHPC share price performance over time.  

NHPC Limited Investor Relevance and Portfolio Role 

NHPC Limited is a core holding in power and utilities portfolios, especially large-cap CPSEs and hydropower. A leading hydro and renewable generator, it offers regulated assets, long-term PPAs, and stable dividends. Inclusion in Nifty Energy and CPSE indices highlights its sector importance, while large capacity, cost-plus tariffs, and CERC-approved PPAs make NHPC a key reference for long-term revenue, tariff stability, and government-backed power-sector allocations. 

NHPC Limited’s equity is held by a broad mix of domestic and international institutional investors, reflecting its prominence as a central public-sector hydropower and renewable energy company in India. Top institutional stakeholders include Life Insurance Corporation of India, Nippon Life India Asset Management, ICICI Prudential Asset Management, Power Finance Corporation, and The Vanguard Group. 

Prominent mutual fund holders include Nippon Mutual Funds – CPSE ETF, iShares Global Clean Energy Transition UCITS ETF, Fidelity Series Emerging Markets Opportunities Fund, Vanguard Total International Stock ETF, Vanguard FTSE Emerging Markets ETF, iShares Core MSCI Emerging Markets ETF, HDFC Balanced Advantage Fund, iShares Global Clean Energy ETF, and Goldman Sachs India Equity Portfolio.   

Beyond traditional equity holdings, NHPC stock price is closely tracked in derivatives markets, with NHPC F&O quotes responding to tariff announcements, project commissioning, and policy updates. Open interest and rollover activity reflect hedging, sector weightage, regulatory sensitivity, and institutional exposure management rather than short-term trading. 

For instance, NHPC’s open interest shows strong F&O participation, with December 2025 contracts exceeding 129 million. Most active calls were at ₹80 and ₹78, with puts also seeing interest. Recent expiries show consistent engagement, reflecting how derivatives respond to market expectations, regulatory updates, and operational outlooks in the energy sector, rather than short-term speculation. 

Technical indicators like NHPC Day RSI, MFI, and MACD help track short-term price movements and responses to tariff changes, project updates, and liquidity shifts. They are primarily used to identify momentum shifts, rather than for long-term valuation. 

NHPC beta measures its price volatility relative to broader indices like Nifty Energy and CPSE, helping investors gauge expected fluctuations in a large public-sector power company. 

For instance, NHPC’s beta indicates moderate-to-high volatility relative to the market, with a long-term beta of around 1.28. Beta from weekly to over one to two years has varied between 1.30 and 1.60 approx. Monthly beta over two years reached close to 2, reflecting higher sensitivity to market swings during project commissioning or regulatory updates. Compared with peers, NHPC shows relatively greater responsiveness, driven by its project-based revenue model and policy-linked operational cycles. 

NHPC Limited Sectoral Relevance and Peer Positioning 

NHPC sector relevance stems from hydropower, pumped storage, and renewable energy projects, supporting grid stability, peak-load balancing, and renewable integration. NHPC peer comparison with SJVN, NTPC, and NLC focus on installed capacity, project pipelines, and cost-plus tariffs under regulated regimes, rather than short-term stock moves, providing benchmarks for scale, performance, and market positioning. 

NHPC sectoral importance is also reflected in financial and market metrics that demonstrate its scale, stability, and systemic impact. 

NHPC P/E ratio has shifted across market phases. It was in single digits around FY2021–22, rose to low double digits in FY2023, reached the mid-20s in FY2024, and around 30 by FY2025. This reflects cyclical re-rating tied to sector developments and market conditions rather than a steady trend.  

NHPC EPS reflects its regulated, long-term business, influenced by generation, new capacity, and tariff revisions. EPS was modest at ₹1–₹2 in the mid-2000s, rose to ₹3–₹4 by 2010–12 with capacity additions, and saw mid-2010s volatility. From 2019–23, it stayed around ₹3.5–₹4.3, moderating to ₹3–₹3.5 in 2024–25 due to operational cycles and normalised performance after earlier strength. 

NHPC market cap reflects government ownership and inclusion in renewable energy indices. Over the past decade, it rose from modest mid-2010s levels to higher values in the early 2020s with improved performance and project visibility. Valuations strengthened through 2023–24, followed by relative stabilisation, showing measured adjustments across operational and market cycles. 

NHPC earnings from 2019–2025 reflect operational performance, influenced by seasonal inflows, new capacity, and tariff revisions. Earnings were ₹42.45 billion in 2019, dipped in 2020, rose to ₹45.44 billion in 2021, peaked at ₹50.21 billion in 2022, and slightly declined to ₹44.10 billion in the trailing twelve months of 2025, reflecting steady operations and a stable regulated business environment  

NHPC Summary 

NHPC Limited (NHPC) maintains a significant presence in India’s power and renewable energy sector. Its operations in hydropower, solar, and wind, combined with long-term agreements and regulated frameworks, are reflected in its stock performance, the NHPC share price, and overall market visibility. Across project developments, financial metrics, and index representation, NHPC continues to demonstrate a structured and consistent operational and market presence within the energy and utilities segment.