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Neyveli Lignite moves up on plan to acquire coal mines abroad to fuel expansion

10 Mar 2014 Evaluate

Neyveli Lignite Corporation is currently trading at Rs. 57.75, up by 0.10 points or 0.17% from its previous closing of Rs. 57.65 on the BSE.

The scrip opened at Rs. 57.45 and has touched a high and low of Rs. 58.35 and Rs. 57.35 respectively. So far 12492 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 77.80 on 08-Mar-2013 and a 52 week low of Rs. 49.00 on 05-Aug-2013.

Last one week high and low of the scrip stood at Rs. 58.35 and Rs. 55.20 respectively. The current market cap of the company is Rs. 9672.00 crore.

The promoters holding in the company stood at 90.00% while Institutions and Non-Institutions held 8.37% and 1.63% respectively.

In a bid to fuel its power sector expansion plans in the country, Navratna public sector enterprise Neyveli Lignite Corporation (NLC) is planning to acquire coal mines abroad. In this regard, the company has got request for partnership from miners in Asia and Africa. Moreover, miners in Australia, Indonesia and Mozambique have shown interest to work with the company.

Further, the company wants to work in a Joint Venture (JV) with the overseas partners to source coal to India. However, the amount of funds earmarked and the preferred deal size remain undisclosed. 

NLC 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.

 

Neyveli Lignite Share Price

304.35 3.85 (1.28%)
20-Apr-2026 16:59 View Price Chart
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