Introduction:
Major PSU stock has successfully bid for the New Patrapara South Coal Mine in Angul, Odisha, securing a block with 720.87 million tonnes of reserves. The mine, with a peak capacity of 12 million tonnes per annum, will enhance the company’s coal mining operations.
Share price movement of NLC India Ltd:
On November 22, 2024, NLC India Ltd opened at ₹257.20, reflecting a 1.62% increase from its previous close of ₹253.10. The stock reached an intraday high of ₹265.95, up 5.08%, and a low of ₹251.95, down 0.44%. The stock closed at ₹261.55, showing a 3.34% increase. The market capitalization stood at ₹36,267.48 crore.
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NLCIL wins Patrapara coal mine:
NLC India Limited has emerged as the highest quoted bidder for the New Patrapara South Coal Mine in Angul, Odisha, following the Ministry of Coal’s e-auction held on November 21, 2024.
The coal block holds approximately 720.87 million tonnes of geological reserves, with a peak rated capacity of 12 million tonnes per annum. This acquisition will enhance NLCIL’s coal mining operations.
Once the official notification is received, the New Patrapara South Coal Mine will become NLCIL’s third commercial coal mine. The company remains focused on expanding its mining capacity to meet growing energy demands.
Recent news on NLC India Ltd:
As of November 19, 2024, NLC India Ltd approved an investment of ₹3,720 crore in its subsidiary, NLC India Renewables Ltd. This will fund renewable energy projects in Gujarat and Rajasthan, alongside acquiring assets worth ₹6,263 crore under its Asset Monetisation Plan.
Stock performance of NLC India Ltd for Period of 1 week, 6 months and 1 year:
NLC India Ltd has shown strong performance, with an 8.91% return over the past week, 8.54% over six months, and a remarkable 53.5% return over the past year, reflecting consistent growth and investor confidence in the company.
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Shareholding pattern of NLC India Ltd:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 72.20% | 72.20% | 72.20% |
| FII | 2.50% | 2.20% | 2.40% |
| DII | 18.60% | 18.10% | 17.70% |
| Public | 6.70% | 7.50% | 7.70% |
About the company NLC India Ltd:
NLC India Ltd (NSE: NLCINDIA) is a prominent public sector undertaking in India, primarily engaged in mining and power generation. The company specializes in lignite mining, thermal power generation, and renewable energy projects, with a strong focus on sustainable growth and energy transition.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
