HUBC to unveil new business developments on Tuesday

News Image

By MG News | January 15, 2024 at 11:15 AM GMT+05:00

0:00

January 15, 2024 (MLN): The Hub Power Company Limited (PSX: HUBC), Pakistan’s largest Independent Power Producer (IPP), will hold a meeting of its Board of Directors on January 16, 2024 to consider and approve corporate actions and business developments, the company informed through a notice sent to the local bourse today.

Following the announcement, HUBC’s share price gained 2.6% or Rs3.1 per share [11:11am PST].

The said meeting's agenda might align with its diversification strategy.

The company has strategized to diversify its business portfolio and customer base by venturing into exploration and sustainable infrastructure projects.

HUBCO’s diversification strategy has yielded positive results, with the company recording its highest-ever consolidated profit in FY23, a 2.1x YoY growth as compared to FY22.

The strong growth in earnings was driven by HUBC’s relentless focus on business diversification, operational efficiency, and cost optimization.

HUBCO is Pakistan's largest IPP with a combined installed power generation capacity of 3,581 MW.

In addition, HUBCO through its subsidiaries operates in various business sectors including Oil and Gas, Mining and Industrial Operations, and Maintenance Services.

With investments in Narowal Energy Limited, Laraib Energy Limited, China Power Hub Generation Company, Thar Energy Limited, and Thal Nova Power Thar Ltd, the Group has an established footprint in the power generation sector.

In addition, the company also holds a 49% stake in China Power Hub Operating Company (Pvt) Limited, a joint venture with China Power International Maintenance Engineering Company Limited, to provide O&M to the Super Critical Coal Power Plant at Hub.

The company also holds a minority stake of 8% in Sindh Engro Coal Mining Company which is establishing a coal mining facility at Thar.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 130,686.66
280.01M
0.26%
342.63
ALLSHR 81,305.25
897.01M
0.35%
281.26
KSE30 39,945.45
114.02M
0.09%
37.19
KMI30 190,698.05
148.61M
0.61%
1163.05
KMIALLSHR 55,074.15
495.43M
0.53%
290.50
BKTi 34,568.40
28.73M
-1.07%
-372.33
OGTi 28,739.35
22.59M
1.57%
443.29
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 110,285.00 110,965.00
109,200.00
0.00
0.00%
BRENT CRUDE 69.01 69.06
68.32
-0.10
-0.14%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
-0.75
-0.76%
ROTTERDAM COAL MONTHLY 109.15 109.80
109.15
0.15
0.14%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 67.37 67.50
66.65
-0.08
-0.12%
SUGAR #11 WORLD 16.02 16.09
15.44
0.44
2.82%

Chart of the Day


Latest News
July 03, 2025 at 04:43 PM GMT+05:00

Privatisation Commission approves advisors for ZTBL


July 03, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: Holding Ground


July 03, 2025 at 04:00 PM GMT+05:00

PKR strengthens 9 paisa against USD


July 03, 2025 at 03:54 PM GMT+05:00

BML Board authorizes CEO to execute deposit deal


July 03, 2025 at 03:38 PM GMT+05:00

Pakistan reaffirms reform, partnership goals at FFD4



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg