Ruru becomes the most expensive hydropower company in stock market
Ruru Hydropower Company has become the most expensive hydropower company in the stock market. The company’s share price reached Rs 1,064 per share on Tuesday.
On this day, Ruru is the only hydropower company with a share price exceeding Rs 1,000. Earlier, the share price of Chilime Hydropower Company alone had reached more than Rs 1,000.
At present, the share price of Chilime has fallen back to Rs. 711 while the share price of Ruru has exceeded Rs 1000. Trailing behing Ruru, the share price of Upper Tamakoshi and Mountain Energy Nepal is just over Rs 800.
Last year, the company had issued primary shares at the rate of Rs 100 per share for the locals of Gulmi and Rs 120 per share for the general public. The company had issued 4,78,705 shares for the affected locals and 4,07,706 shares for the general public.
The power generation capacity of the project, which costs less than Rs 150 million per MW, is also good. The company’s share price has reached more than Rs 1,000 in a short period of time as it is an attractive project completed at low cost with only few shares issued to the public.