NLC India share price broke five-day losing streak, gaining nearly 1 percent on May 7 following the company signed power purchase agreement with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL).
At 09:39am, NLC India was quoting at Rs 219.35, up Rs 1.60, or 0.73 percent, on the BSE.
NLC India Renewables Limited (NIRL), a 100% subsidiary and renewable energy arm of NLC India signed the power purchase agreement (PPA) for its upcoming 810 MW solar power project with RVUNL.
The project was awarded through a competitive tariff-based bidding process by RVUNL and is being implemented under the MNRE's Ultra Mega Renewable Energy Power Park (UMREPP) Scheme - Mode 8.
The project is expected to generate approximately 2 billion units (BU) of green electricity annually and offset approximately 1.5 million metric tons of CO2 emissions per year, as per the terms of PPA, playing a vital role in India's transition to a low-carbon economy, company said.
The project will be established within the infrastructure of the 2000 MW Pugal Solar Park being developed by RVUNL, it added.
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In another development, the company has signed a Memorandum of Understanding (MoU) with IREL (India) to cooperate and collaborate for development (Mining/Excavation/Refining etc.) of mutually agreed assets of critical mineral in general including REE by acquiring assets /sourcing raw materials domestically or internationally.
In March the company board has in-principle approved external commercial borrowings up to USD 200 million, with an equivalent green shoe option and also received a Letter of Award for a 200 MW wind power project from SJVN at a tariff of Rs 3.74 per kWh.
The share touched a 52-week high of Rs 311.65 and a 52-week low of Rs 185.85 on 16 July, 2024 and 17 February, 2025, respectively.
Currently, the stock is trading 29.62 percent below its 52-week high and 18.03 percent above its 52-week low.
The market capitalisation of the company stands at Rs 30,415.87 crore.
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