NHPC plunges on heavy volume

Last Updated: Mon, Mar 04, 2013 09:27 hrs

Shares in hydropower utility NHPC Ltd fall as much as 29.9 percent to a five-month low with brokers citing heavy selling by some institutional and high net-worth investors.

NHPC sees its highest daily volumes since its listing on September 1, 2009.

NHPC says in a statement to exchanges "there is no change which affects the major price movement" as to fundamentals for the company, and sees no adverse impact from India's Finance Bill unveiled last week.

NHPC down 23.6 percent as of 2:38 p.m.

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