Neyveli Lignite Corp gains on eyeing acquisition of multiple power projects

Sep 29,2014   10:00 Hrs IST

Neyveli Lignite Corporation is currently trading at Rs. 84.75, up by 0.90 points or 1.07 % from its previous closing of Rs. 83.85 on the BSE. The scrip opened at Rs. 84.00 and has touched a high and low of Rs. 84.75 and Rs. 83.85 respectively. So far 1992 shares were traded on the counter. The BSE group 'A ' stock of face value Rs. 10 has touched a 52 week high of Rs. 108.50 on 26-May-2014 and a 52 week low of Rs. 54.55 on 30-Jan-2014. Last one week high and low of the scrip stood at Rs. 89.90 and Rs. 81.00 respectively. The current market cap of the company is Rs. 14067.59 crore. The promoters holding in the company stood at 90.00 % while Institutions and Non-Institutions held 8.30 % and 1.70 % respectively. Neyveli Lignite Corporation (NLC) is examining a number of power projects on offer to scale up its generating capacity rapidly. The company is examining nine projects, where the promoters have showed interest in letting NLC acquire the projects. These proposals have been received in response to call for expressions of interest by the company. The Central public sector enterprise in lignite mining and power generation mines about 30 million tonnes of lignite annually and has association power generation of about 2,740 MW. NLC is engaged in the business of lignite mining and power generation. At present, the company has four opencast lignite mines with a capacity of about 30.60 million tonnes per annum, while it can produce about 2,740 MW of power from four power plants