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NLC India rises on inking pact to supply 200 MW green power to Telangana state

29 Aug 2024 Evaluate

NLC India is currently trading at Rs. 277.35, up by 1.20 points or 0.43% from its previous closing of Rs. 276.15 on the BSE.

The scrip opened at Rs. 279.65 and has touched a high and low of Rs. 287.95 and Rs. 276.15 respectively. So far 196753 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 311.65 on 16-Jul-2024 and a 52 week low of Rs. 117.00 on 26-Oct-2023.

Last one week high and low of the scrip stood at Rs. 287.95 and Rs. 268.40 respectively. The current market cap of the company is Rs. 38472.23 crore.

The promoters holding in the company stood at 72.20%, while Institutions and Non-Institutions held 20.32% and 7.49% respectively.

NLC India has signed power usage agreement at Hyderabad, with Telangana State DISCOMs for 200 MW Solar Power at a competitive and affordable price under CPSU scheme for 25 years.

The company's solar project is set to generate around 1,300 crore units of green power and offset 90 lakh tons of Carbon emission in its lifetime. The project will be developed with the State-of-the-art equipment including single axis trackers, Domestic make high efficiency modules aimed for achieving higher generation under Atma Nirbhar Bharat (Make in India). The project is set to be commissioned by June 2025.

This association comes with twin advantage of cheap green power and meeting the Renewable purchase obligation of Telangana State. The company has already been supplying more than 234 MW of affordable thermal power to the State of Telangana for more than three decades and this association in Renewables is the mark of the start of a long journey, for both the State of Telangana and NLC India towards a Sustainable future.

NLC India is engaged in the business of lignite mining and power generation.

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