NLC India shines on inking MoU with Government of Rajasthan for formation of joint venture
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NLC India is currently trading at Rs. 235.20, up by 17.00 points or 7.79% from its previous closing of Rs. 218.20 on the BSE.
The scrip opened at Rs. 238.05 and has touched a high and low of Rs. 244.60 and Rs. 230.35 respectively. So far 1728797 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 293.60 on 05-Feb-2024 and a 52 week low of Rs. 69.79 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 244.60 and Rs. 217.10 respectively. The current market cap of the company is Rs. 32877.15 crore.
The promoters holding in the company stood at 79.20%, while Institutions and Non-Institutions held 14.36% and 6.44% respectively.
NLC India (NLCIL) has signed a memorandum of understanding (MoU) with the Government of Rajasthan for Formation of Joint Venture to set up 125 MW Lignite Based Power Plant and 1000 MW Solar Power Plant. The MoU between NLC India and RVUNL (Rajasthan Rajya Vidyut Utpadan Nigam) entails a staggering investment of more than Rs 7000 crore. The MoU exchange signifies a resolute step towards sustainable and robust energy infrastructure, aligning with the Nation's Ambitious Renewable Energy targets.
Among the notable projects, the MoU outlines the establishment of a 125 MW Lignite Pit-head Thermal Power Plant in Bikaner district and a massive 1000 MW Solar Power Plant, further reinforcing NLCIL's commitment to renewable energy initiatives. Additionally, a LoI for the setup of an 810 MW solar power plant has already been issued. This is in line with corporate plan of NLC India to become a power major of 17 GW capacity with more than 6 GW renewable capacity by 2030.
NLC India is engaged in the business of lignite mining and power generation.
