NLC India surges on entering into MoU with BHEL
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NLC India is currently trading at Rs. 70.10, up by 1.40 points or 2.04% from its previous closing of Rs. 68.70 on the BSE.
The scrip opened at Rs. 69.85 and has touched a high and low of Rs. 70.80 and Rs. 69.80 respectively. So far 67745 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 92.40 on 04-May-2022 and a 52 week low of Rs. 54.70 on 29-Nov-2021.
Last one week high and low of the scrip stood at Rs. 71.45 and Rs. 66.65 respectively. The current market cap of the company is Rs. 9720.32 crore.
The promoters holding in the company stood at 79.20%, while Institutions and Non-Institutions held 11.01% and 9.79% respectively.
NLC India (NLCIL) has entered into a Memorandum of Understanding (MoU) with BHEL, a Public Sector Undertaking under the Ministry of Heavy Industries, to develop indigenous technology for Lignite Gasification. The MoU was signed between NLCIL & BHEL to take-up the study on lignite gasification for IGCC power/ chemicals at New Delhi. The MoU will enable NLCIL in developing indigenous technology and study the feasibility of using Lignite for Power Generation through Gasification and the Production of value added chemicals.
Coal gasification has been internationally accepted as one of the most viable and effective clean coal technology for production of synthetic fuels, chemicals, various thermal applications & power generation. It also offers a practical means of utilizing lignite/coal for meeting stringent environment requirements. NLCIL has taken up the above initiative inline with the national mission of diversifying fuel supply by innovative utilization of the huge reserves of Lignite.
NLC India is engaged in the business of lignite mining and power generation.
