Navratna stock rose 4.3 percent to Rs 189.65 per share after the company commenced Biomass Co-firing operations in its Joint venture NTPL in its Tamilnadu plant.
At 11:40 p.m., NLC India shares were trading at Rs 185.50 a share on the National Stock Exchange, up 2.04 from the previous close price, and the company has a market capitalization of Rs 25,722 crores.
NLC India Limited launched biomass co-firing in its coal-based thermal power plant NLC Tamilnadu Power Limited (NTPL) in Tuticorin on December 5, 2023, as a move towards sustainability in thermal power generation and by MoP requirements. According to the company’s exchange filing.
The stubble waste that is burned is pelletized and combined with coal for burning in a thermal power unit. This phase is designed to minimize coal use while also making use of waste biomass. This initiative is set to address agricultural waste in the country by utilising the same in power generation.
NLC India shares have delivered a return of 90 percent in the last six months and 110 percent in a year. A shareholder investment of Rs 1 lakhs in the company a year ago, would be worth Rs 2.10 lakhs.
The company’s revenues have increased by 15 percent year on year from Rs 3,489 crore in Q2FY23 to Rs 2,977 crore in Q2FY24, while net profit has increased by 160 percent in the same period, from Rs 416 crore to Rs 1,085 crore.
NLC India is a Navratna stock company engaged in the business of mining lignite and generation of power by using lignite and Renewable Energy Sources.
NLC India Limited has achieved the Highest Power Generation of 30.08 Billion Units for the FY 2022-23.
The company operates 3 opencast Lignite Mines with a total installed capacity of 28 Million Tonnes Per Annum (MTPA) at Neyveli, one opencast Lignite Mine at
Barsingsar in Rajasthan with an installed capacity of 2.10 MTPA, and an open-cast coal mine at Talabira in Odisha with an installed capacity of 20 MTPA.
The company has diversified its projects in the business of Pumped storage, Lignite to Methanol, Lignite to diesel, Battery Storage, and many more.
Written by Omkar Chitnis
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