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NLC India gains on signing joint venture agreement with RVUNL

24 Oct 2024 Evaluate

NLC India is currently trading at Rs. 248.60, up by 5.35 points or 2.20% from its previous closing of Rs. 243.25 on the BSE.

The scrip opened at Rs. 245.15 and has touched a high and low of Rs. 254.20 and Rs. 244.85 respectively. So far 84548 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. 265.10 and Rs. 234.25 respectively. The current market cap of the company is Rs. 35213.64 crore.

The promoters holding in the company stood at 72.20%, while Institutions and Non-Institutions held 21.14% and 6.66% respectively.

NLC India has signed a Joint Venture agreement with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) on October 23, 2024 for setting up of 3x125 MW Lignite based Thermal Power Station in the Rajasthan State and to develop the Mines to meet the fuel requirement of the Thermal Power Station.

Besides, the company’s wholly owned subsidiary -- NLC India Renewables (NIRL) has signed a Joint Venture Agreement with Rajasthan Rajya Vidyut Utpadan Nigam on October 23, 2024 for developing 2000 MW of renewable power projects in the state of Rajasthan.

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

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