Neyveli Lignite Corp jumps after synchronizing unit II of NLC Tamil Nadu Power

Neyveli Lignite Corporation rose 4.21% to Rs 77.95 at 9:34 IST on BSE after the company said that unit II of Tuticorin Power Project was test synchronized with the grid on 9 April 2015.

The announcement was made after market hours yesterday, 9 April 2015.

Meanwhile, the BSE Sensex was down 26.83 points, or 0.09%, to 28,858.38.

On BSE, so far 64,000 shares were traded in the counter, compared with an average volume of 24,147 shares in the past one quarter.

The stock hit a high of Rs 79.40 and a low of Rs 76.40 so far during the day. The stock hit a 52-week high of Rs 108.50 on 26 May 2014. The stock hit a 52-week low of Rs 65.25 on 27 March 2015.

The stock had underperformed the market over the past one month till 9 April 2015, falling 3.48% compared with 0.14% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 4.96% as against Sensex's 5.20% rise.

The large-cap company has an equity capital of Rs 1677.71 crore. Face value per share is Rs 10.

Neyveli Lignite Corporation (NLC) announced that unit II (500 megawatts) of Tuticorin Power Project of NLC Tamilnadu Power, NLC's subsidiary company, has been test synchronized with the grid on 9 April 2015.

Net profit of NLC declined 36.72% to Rs 309.47 crore on 13.51% rise in net sales to Rs 1492.65 crore in Q3 December 2014 over Q3 December 2013.

NLC's principal activities are exploration of lignite mines and power generation.

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