Neyveli Lignite is currently trading at Rs. 88.85, up by 3.50 points or 4.10% from its previous closing of Rs. 85.35 on the BSE.
The scrip opened at Rs. 87.60 and has touched a high and low of Rs. 92.90 and Rs. 86.50 respectively. So far 294588 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 118.00 on 28-Apr-2011 and a 52 week low of Rs. 67.65 on 23-Nov-2011.
Last one week high and low of the scrip stood at Rs. 92.90 and Rs. 85.05 respectively. The current market cap of the company is Rs. 14872.90 crore.
The promoters holding in the company stood at 93.56% while Institutions and Non-Institutions held 4.83% and 1.61% respectively.
Neyveli Lignite Corporation (NLC) has received government’s approval to set up Rs 10,000 crore thermal power project in Uttar Pradesh (UP). The Cabinet cleared NLC’s proposal for a joint venture to set up a 1,980-MW coal-based thermal power project at Ghatmapur in Kanpur district of Uttar Pradesh.
The public sector company is in the process of signing a Memorandum of Understanding (MoU) with Uttar Pradesh Rajya Vidyut Utpadan Nigam for the proposed power plant in a 50:50 equity participation. Further, the UP government has given an in-principle approval to allocate 2,500 acres and 80 cusecs of water for the NLC project.
Neyveli Lignite Corporation is engaged in the business of lignite mining and power generation. At present, the company has four opencast lignite mines with a capacity of about 30.60 million tonnes per annum, while it can produce about 2,740 MW of power from four power plants.
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