Neyveli Lignite Corporation is currently trading at Rs 59.35, up by 1.05 points or 1.80% from its previous closing of Rs 58.30 on the BSE.
The scrip opened at Rs 59.95 and has touched a high and low of Rs 60.55 and Rs 58.80 respectively. So far 14479 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 90.65 on 08-Aug-2012 and a 52 week low of Rs 52.20 on 25-Jun-2013.
Last one week high and low of the scrip stood at Rs 60.45 and Rs 55.55 respectively. The current market cap of the company is Rs 9781.05 crore.
The promoters holding in the company stood at 93.56% while Institutions and Non-Institutions held 4.90% and 1.54% respectively.
The Union Ministry of Coal has allocated 2 coal blocks to Neyveli Lignite Corporation (NLC) for implementing its power projects and at Sirkali in Tamil Nadu and Neyveli Uttar Pradesh Power, Ghatampur in Uttar Pradesh. NLC is planning to set up a 4000 MW coal based power plant near Thirumullaivasal village of Sirkali Taulk, Nagapattinam district in two phases.
In the first stage, NLC has proposed to set up a 1980 MW power project at an estimated cost of Rs 103.95 billion. Action has been initiated to acquire the required land through Govt. of Tamil Nadu and for obtaining clearances from various statutory authorise.Similarly, the company is setting up a 1980MW (3x660MW) coal based thermal power project at Ghatampur in Kanpur Nagar District of Uttar Pradesh at an estimated cost of Rs 14,375.40 crore.
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. It is one of the best public sector units in the country and a best profit making company in the past 16 years.
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