The equity participation in the proposed JV between Coal India Ltd (CIL) and NLC India will be in the ratio of 50:50, NLC India said in a regulatory filing.
The power generation by the PSU in January-March 2018-19 stood at 5,586.17 MU, NLC India said in a statement.
Total income from operations (net) rose to Rs 3,069.3 crore during the quarter under review from Rs 2,463.3 crore in the year-ago period.
"NLC India has issued and allotted 24,000 nos of commercial paper of face value of Rs 5,00,000 each aggregating to Rs 1,200 crore," the PSU said in a filing to BSE.
The lignite mining and power generation company informed exchanges that operations at Neyveli Mines resumed on April 8.
HDFC Bank, SBI Life, IDBI Bank, NLC India, IndusInd Bank and Ajanta Pharma are among some of the stocks which are in news today.
"The Company has decided to raise Rs 525 crore through private placement of Secured, Non-Cumulative, Non-Convertible, Redeemable, Taxable Bonds (Series I of 2020) in the nature of Debentures at a coupon of 7.36 per cent per annum with a door to door maturity of 10 years, as per the bidding process held on January 23, 2020," it said in a BSE filing.
"The board of directors of the company in its meeting held today...approved the proposal for raising of funds through issuance of commercial paper up to Rs 2,000 crore in tranches," NLC India Ltd said in a filing to the BSE.
The Navratna company will produce 20 million tonne of coal per annum from Talabira II and III coal blocks to fuel its 4,200 MW of thermal power projects, an official of the company said.
The issue will open early next week and investors would get 3.5-4 percent discount over the issue price, the sources said.
Thanks to correction in markets, few PSUs have come out with the buy backs and they are worth a look
Listed below is six such state-run entities, which are strong businesses and command pole position in the industry
Coal India said that it has entered into a pact with NLC India to set up a joint venture for power generation.
CIL Chairman A K Jha had earlier said the company is optimistic about an aspirational production target of 652 million tonne for 2018-19.
SRF | SRG Housing Finance | Infosys | Tata Power | RattanIndia | Action Construction Equipment and VST Tillers are stocks which are in the news today.
NLC would also take up thermal power projects of 4,000 MW capacity, solar and wind-based power generation projects in Odisha.
Notwithstanding a few temporary blips, we remain bullish on Titan’s ability to maintain its premium valuation
NLC said it has been able to reduce Lignite Transfer Price for captive use by around Rs 300/tonne leading to lowering of power tariff ranging from Rs 0.35 to Rs 0.58 per Kwhr (unit) of electricity from its power plants with effect from April/May 2018.
Senior executives of NMDC Limited and NLC India Limited are expected to visit Australia to sign a joint R&D agreement with Environmental Clean Technologies Limited (ECT) an Australian company expert in commercialising leading-edge coal and iron-making technologies, sources close to the development said.