NLC India moves up on getting nod to incorporate wholly owned subsidiary
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NLC India is currently trading at Rs. 86.39, up by 1.39 points or 1.64% from its previous closing of Rs. 85.00 on the BSE.
The scrip opened at Rs. 84.71 and has touched a high and low of Rs. 86.70 and Rs. 84.71 respectively. So far 37315 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 95.25 on 08-Dec-2022 and a 52 week low of Rs. 58.35 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 88.99 and Rs. 81.40 respectively. The current market cap of the company is Rs. 11938.94 crore.
The promoters holding in the company stood at 79.20%, while Institutions and Non-Institutions held 11.87% and 8.93% respectively.
NLC India has received an approval for incorporation of wholly Owned Subsidiary Company to take over the existing renewable assets in the name of ‘NLC India Renewables’ or any other name as may be made available / approved by Ministry of Corporate Affairs.
The Board of Directors at their meeting held on May 8, 2023, has considered and approved the same. The board also approved issuance of Bonds in the nature of Debentures up to Rs 5000 crore in tranches during the FY 2023-24.
NLC India is engaged in the business of lignite mining and power generation.
