Neyveli Lignite surges on entering into JVA to set up 1,980 MW coal based thermal power project

08 Oct 2012 Evaluate

Neyveli Lignite is currently trading at Rs. 86.70, up by 1.70 points or 2.00% from its previous closing of Rs. 85.00 on the BSE.

The scrip opened at Rs. 86.00 and has touched a high and low of Rs. 89.60 and Rs. 85.50 respectively. So far 108460 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 105.30 on 16-Feb-2012 and a 52 week low of Rs. 67.65 on 23-Nov-2011.

Last one week high and low of the scrip stood at Rs. 89.60 and Rs. 84.25 respectively. The current market cap of the company is Rs. 14604.46 crore.

The promoters holding in the company stood at 93.56% while Institutions and Non-Institutions held 4.81% and 1.63% respectively.

Neyveli Lignite Corporation (NLC) has entered into a joint venture agreement (JVA) with Uttar Pradesh Rajya Vidyut Utpadan Nigam (UPRVUNL) on October 06, 2012 for setting up a 1,980 MW coal based thermal power project in Ghatampur Tehsil, Kanpur Nagar district at Uttar Pradesh. The company will hold 51% of the equity while UPRVUNL will hold the remaining 49% stake in the project.

The company has entered into JVA pursuant to receiving letter dated April 24, 2012, from Ministry of Coal, Government of India.

Neyveli Lignite Corporation 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

233.60 2.50 (1.08%)
15-Jan-2025 12:19 View Price Chart
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