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28-Jul2017

NLC India surges on planning to acquire DVC's Ragunathpur Thermal Power plant

NLC India is currently trading at Rs. 102.10, up by 1.15 points or 1.14% from its previous closing of Rs. 100.95 on the BSE.

The scrip opened at Rs. 100.00 and has touched a high and low of Rs. 103.00 and Rs. 100.00 respectively. So far 8022 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 123.00 on 23-Mar-2017 and a 52 week low of Rs. 71.00 on 29-Sep-2016.

Last one week high and low of the scrip stood at Rs. 106.00 and Rs. 100.40 respectively. The current market cap of the company is Rs. 15446.18 crore.

The promoters holding in the company stood at 89.32%, while institutions and non-institutions held 8.97% and 1.71% respectively.

NLC India has shortlisted 2x660 MW Ragunathpur Thermal Power Station of the Damodar Valley Corporation (DVC) for acquisition. Besides, the company has also identified two more stressed power assets for possible acquisition to augment its power generation capacity.

The government has reviewed the status of 34 stressed Thermal Power Projects, as per the list provided by Department of Financial Services (DFS), with an estimated debt of about Rs 1.77 lakh crore.

NLC India is engaged in the business of lignite mining and power generation. At present, the company has four opencast lignite mines.


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