Neyveli Lignite Corporation is currently trading at Rs. 77.30, up by 2.50 points or 3.34% from its previous closing of Rs. 74.80 on the BSE.
The scrip opened at Rs. 76.90 and has touched a high and low of Rs. 79.40 and Rs. 76.40 respectively. So far 63555 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 108.50 on 26-May-2014 and a 52 week low of Rs. 65.25 on 27-Mar-2015.
Last one week high and low of the scrip stood at Rs. 79.40 and Rs. 70.75 respectively. The current market cap of the company is Rs. 12549.27 crore.
The promoters holding in the company stood at 90.00% while Institutions and Non-Institutions held 8.37% and 1.63% respectively.
Neyveli Lignite Corporation (NLC) has inked a Memorandum of Understanding (MoU) with Japan-based Kobe Steel (KSL) for setting up upgraded brown coal-based pilot power generation project. The signing of MoU between the two companies was against the backdrop of the satisfactory completion of pilot study taken last year.
The company had sent 80 tonnes of Lignite to Indonesia to test at the KSL pilot plant there for drying and making pellets for testing. The study was sanctioned by New Energy and Industrial Development Organisation, established under the Ministry of Economy, Japan and was satisfactory.
Further, the company has also signed a MoU with Tiruchirapalli-based National Institute of Technology, for Dynamic Loading of Conveyor Drive Heads in Mines for optimizing energy efficiency of conveyors. Since existing conveyor systems requires maximum drive power at the starting moment, with the Dynamic loading system, about 2.20 million units of power can be saved per year. This in turn would help the company to save Rs 31 crore per annum after the implementation of the new system.
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