Neyveli Lignite Corporation is currently trading at Rs. 80.85, up by 0.25 points or 0.31% from its previous closing of Rs. 80.60 on the BSE.
The scrip opened at Rs. 80.60 and has touched a high and low of Rs. 80.95 and Rs. 80.25 respectively. So far 1239 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. 69.00 on 20-Dec-2011.
Last one week high and low of the scrip stood at Rs. 83.65 and Rs. 80.05 respectively. The current market cap of the company is Rs. 13539.12 crore.
The promoters holding in the company stood at 93.56% while Institutions and Non-Institutions held 4.82% and 1.62% respectively.
State-owned company, Neyveli Lignite Corporation has expanded its search area for the right pelletisation technology from Germany to Australia and Japan, as it is looking for increasing the use of lignite (brown coal) for power production. The entity is in the process to set up India's first pilot plant in Tamil Nadu using suitable overseas technology to convert lignite into pellets.
With this plant, the company will be able to boost India's power generation capacity, as the country's vast lignite resources could be used in more significant scoops for meeting domestic energy needs. Pelletisation essentially seeks to convert lignite into pellets that can compete with coal in terms of calorific value and ability to be transported to longer distances.
The entity was not able to use Lignite in power production by the fact that it has a much shorter spontaneous heating time as compared to coal, and hence, this raw material cannot be transported beyond 100-odd km by rail or road, necessitating power units to be set up in the vicinity of the pit heads. It had started its hunt for the right technology in Germany, which developed a way to preserve the inherent moisture content in lignite by converting it into pellets and thus, prolonging the spontaneous heating time.