Analysts as Anand Rathi witnessed a breakout from the consolidation in shares of NHPC and the price action resembles a bullish inverse Head & Shoulder pattern.
The anticipation of increased spending by the central government in preparation for the 2024 general elections is projected to provide an additional impetus to cement demand in FY24, said Choice Broking.
Net revenue from operation stood at Rs 4,901 crore up 20% YoY from Rs 4,069 crore reported in the year-ago period. On a sequential basis, it was up 7% over Rs 4,585 crore reported in Q2FY24.
Revenue from operations in the reporting second quarter jumped 19% year-on-year (YoY) to Rs 4,800 crore, compared with Rs 4,038 crore in the year-ago quarter. Operating profit or EBITDA for the quarter jumped 64% YoY to Rs 886 crore. The total sales volume increased 10% year-on-year to 8.2 million tonnes in the July-September period.