Shares of NLC India were up 2 percent on June 16 after the company announced that it has incorporated a subsidiary to house renewable assets. In the company's board meeting held on May 8, 2023, NLC India decided to establish a new wholly owned subsidiary called "NLC India Renewables Ltd", which will be responsible for managing the company's current renewable assets previously owned by the mining and power generation company.
At 09:44 am, NLC India stock was quoting at Rs 99.59, up 1.60 percent, on the BSE. The scrip was trading with volumes of 11,840 shares so far on June 16, as compared to its five-day average of 135,484 shares, a decrease of 91 percent.
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Some market participants had pointed out that the company is expected to add renewable capacities as a part of its expansion programme. Considering the capacity addition outlook, revenue growth for NLC India is likely to be a considerable one from its existing level.
Consolidated sales jumped 66 percent YoY to Rs 5,134.04 crore in the March quarter of 2023 while net profit soared 150 percent to Rs 829.67 crore.
NLC India is an integrated power company having captive lignite and coalmines and a consolidated generation capacity of 6,061 MW. It is a CPSE with ‘Navratna’ status under direct administrative control of the Ministry of Coal.
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