According to informed sources, the earlier damaged unit may also not commence operation in September as a result only two of the four generating units would be operational.
Since Monday, the scrip received heavy selling pressure and lost nearly Rs 1.90 to Rs 30.15. The rumours which hurt the sentiment of the investors and forced them to sell their holdings was that the company's second generator had developed some defect and might need some repair to restart operation. According to sources, the plant, which has four generators, was working with three generators.
"The company has planned to repair the failed generator by end of this month, but still the repair work is going on", they said. The second generator was shut down as per company's schedule for maintenance and repair work was going on, but during monitoring the engineers found some defect and would not start operating on time, they added.
Another rumour which badly bruised the sentiment of the investors, triggering selling pressure, was that the generator which was supposed to be repaired by the end of this month could not be repaired and would be replaced by a new generator, while another group believes that instead of September, the generator would be repaired in October.
Officials at Hubco were not available to comment.