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    533098   INE848E01016

NHPC LIMITED

(533098)
  Report
End-of-day quote Bombay Stock Exchange  -  2023-01-29
43.35 INR   +0.12%
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India to launch fourth tranche of BHARAT Bond ETF on Friday

12/01/2022 | 02:06am EST

MUMBAI (Reuters) - The fourth tranche of India's first corporate bond exchange-traded fund (ETF) is set to be launched this week, Edelweiss Mutual Fund, which manages the ETF, said on Thursday.

The new fund offer of the ETF, which invests only in AAA-rated corporate bonds issued by state-run companies, will open on Dec. 2 and close for subscription on Dec. 8.

The first offering of the ETF was launched in late 2019.

Through the latest tranche, Edelweiss Mutual Fund plans to raise at least 10 billion rupees ($123.29 million), with a greenshoe option to retain an additional 40 billion rupees.

This series will mature in April 2033 and offer a yield-to-maturity of 7.50%, the fund house said.

The latest ETF will include papers issued by National Bank for Agriculture and Rural Development, National Highways Authority of India, Power Finance Corp and NTPC among others.

Edelweiss, which designs and manages ETFs on behalf of the government, has so far launched ETFs through three tranches with total assets under management of over 500 billion rupees.

In the last one year these ETFs have generated returns in the range of 2% to 4% as on Nov. 30, the fund house said.

Fund managers have said returns on debt schemes have been impacted this year due to aggressive rate hikes from the central bank.

($1 = 81.1120 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Nivedita Bhattacharjee)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
NHPC LIMITED 0.12% 43.35 End-of-day quote.9.19%
NTPC LTD 1.36% 171.15 Delayed Quote.1.44%
POWER FINANCE CORPORATION LIMITED 4.20% 141.45 Delayed Quote.-3.83%
POWER GRID CORPORATION OF INDIA LIMITED -3.38% 211.75 End-of-day quote.-0.98%
REC8.1924 5.00% 121.75 Delayed Quote.-11.08%
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Analyst Recommendations on NHPC LIMITED
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Financials
Sales 2023 96 926 M 1 189 M 1 189 M
Net income 2023 34 441 M 422 M 422 M
Net Debt 2023 272 B 3 338 M 3 338 M
P/E ratio 2023 12,6x
Yield 2023 4,31%
Capitalization 435 B 5 342 M 5 342 M
EV / Sales 2023 7,30x
EV / Sales 2024 6,71x
Nbr of Employees 5 092
Free-Float 27,4%
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Mean consensus BUY
Number of Analysts 6
Last Close Price 43,35 INR
Average target price 49,42 INR
Spread / Average Target 14,0%
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Managers and Directors
Rajeev Kumar Vishnoi Chairman & Managing Director
Rajendra Prasad Goyal Chief Financial Officer & Director
Yamuna Kumar Chaubey Technical Director
Rupa Deb Secretary & Compliance Officer
Uday Sakharam Nirgudkar Independent Director