NLC India shares rose more than 3 percent in early trading on August 29 following the company’s announcement of a new power usage agreement in Hyderabad.
At 09:23 am, NLC India was quoting at Rs 286.50, up Rs 10.35, or 3.75 percent, on the BSE.
The agreement with Telangana State DISCOMs is for a 200 MW solar power project under the CPSU scheme, set to last 25 years at a competitive and affordable price.
The solar project is expected to generate approximately 1,300 crore units of green power and reduce carbon emissions by 90 lakh tons over its lifetime.
The company plans to use state-of-the-art equipment, including single-axis trackers and high-efficiency domestic modules, in line with the Atma Nirbhar Bharat (Make in India) initiative. The project is scheduled for commissioning by June 2025.
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The company posted a 38 percent jump in net profit of Rs 559.42 crore in the quarter ended June 2024.
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