NLC India Stocks: NLC India Share Price NSE India
NLC India Stocks (NLCINDIA) is trading at ₹235.00 INR per share, as of 02:59 PM IST on March 11, 2024, marking a notable 7.43% increase for the day. Providing insight into NLC India, its market capitalization stands at ₹30,332.68 crore, with a 52-week high of ₹293.75 and a low of ₹69.70. The company exhibits a PE ratio of 12.16 and a dividend yield of 1.6%. Today’s trading activity reflects a volume of 2,400,501 shares. Operating within the Power Generation and Distribution sector, NLC India has demonstrated robust financial performance, albeit with a valuation that is perceived as relatively high.
Key Points
Today, both retail and non-retail investors can bid in the NLC India OFS, representing 7% of the company’s equity. The stock surged 12.09% to Rs 244.60 on the BSE. The floor price is Rs 212 per share, a 6.48% discount to Wednesday’s closing price. The government plans to sell 5% of NLC India’s equity.
The power company signed a deal with the Government of Rajasthan to work together on building a new power plant. They plan to create a 125 MW power plant using lignite and a 1000 MW solar power plant.
NLC India Stocks price went up because of two big things that happened
- NLC India Signing a deal with the Government of Rajasthan
The power company made an agreement (called a memorandum of understanding or MoU) with the Government of Rajasthan. They’re teaming up to build a power plant that runs on lignite (a type of coal) that will produce 125 megawatts of power, and also a solar power plant that will produce 1000 megawatts of power. This agreement means they’re planning to invest more than Rs 7,000 crore in these projects.
- NLC India Offer for Sale (OFS) for regular investors is now open
The Indian government wants to sell 5% of its stake in the company through an Offer for Sale (OFS). The sale started today, March 11, for regular investors. It started on March 7 for other investors and was oversubscribed by 2.92 times, which means there was a lot of demand. The company said they’ll sell about 6.93 crore shares initially, with an option to sell 2.77 crore more if needed.
About NLC India Ltd
NLC India Limited, a leading player in the energy sector among Public Sector Enterprises for over 60 years, has made substantial contributions to lignite, thermal, and renewable energy generation in India. Established on November 14, 1956, it operates across various states including Tamil Nadu, Rajasthan, Uttar Pradesh, Odisha, Jharkhand, Gujarat, and the Andaman & Nicobar Islands. NLCIL runs opencast lignite mines with a total capacity of 28 MTPA, thermal power stations totaling 3390 MW, and solar and wind power plants generating 1380 MW and 51 MW respectively.
It aims to achieve 6031 MW in renewable energy capacity by 2030 and expand to 17,171 MW by the same year, with ongoing projects like the Ghatampur Thermal Power Station in Uttar Pradesh and coal mine developments in Odisha and Jharkhand. Additionally, it has incorporated subsidiaries such as Coal Lignite Urja Vikas Private Limited and NLC India Renewables Limited to further its energy initiatives. NLCIL’s commitment extends beyond energy, contributing significantly to the socio-economic development of India.
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