Neyveli Lignite Corp is currently trading at Rs. 62.40, up by 2.55 points or 4.26% from its previous closing of Rs. 59.85 on the BSE.
The scrip opened at Rs. 60.45 and has touched a high and low of Rs. 63.35 and Rs. 60.00 respectively. So far 75566 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. 61.00 and Rs. 57.85 respectively. The current market cap of the company is Rs. 10452.13 crore.
The promoters holding in the company stood at 93.56% while Institutions and Non-Institutions held 4.89% and 1.55% respectively.
The Securities and Exchange Board of India (SEBI) has given nod to the proposal of Tamil Nadu government-run companies acquiring the remaining 3.56% in centrally-run Neyveli Lignite Corporation (NLC), to meet the minimum 10% public shareholding in government enterprises. The public now holds 6.44% in the company.
Post this development, four government companies would together invest Rs 500 crore to buy the stake, viz, Tamil Nadu Industrial Development Corporation, State Industries Promotion Corporation of Tamil Nadu, Tamil Nadu Urban Finance & Infrastructure Development Corporation and Tamil Nadu Power Finance & Infrastructure Development Corporation.
Also, with this approval, the joint strike by the worker unions stands cancelled. All the worker unions in the Corporation went on to an indefinite strike after Centre, which held 93.56 per cent stake in the company, had proposed to divest 3.56% per cent in the open market, a move which workers saw as a precursor for privatization.
Nevertheless, the way for the State to purchase the shares was paved following discussions in Mumbai among officials from Tamil Nadu, led by K. Shanmugam, Principal Secretary (Finance), and those of the Centre and Securities and Exchange Board of India (SEBI).
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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