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BW Businessworld

NHPC Plunges On Heavy Volume

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

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

NHPC said in a statement to the exchanges that "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 per cent as of 2:38 p.m.

(Reuters)