Neyveli Lignite gains after commissioning Unit-I of TPS-II expansion project at Neyveli

Neyveli Lignite Corporation rose 0.67% to Rs 82.30 at 12:40 IST on BSE after TPS-II expansion project at Neyveli is put into commercial operation after the company declared commencement of commercial operation of Unit I of the project.

The company made announcement during market hours today, 6 July 2015.

Meanwhile, the S&P BSE Sensex was down 144.52 points or 0.51% at 27,948.27.

On BSE, so far 15,986 shares were traded in the counter as against average daily volume of 46,663 shares in the past one quarter.

Shares of PSU lignite mining company hit a high of Rs 83 and a low of Rs 80.55 so far during the day. The stock hit a 52-week high of Rs 106 on 8 July 2014. The stock hit a 52-week low of Rs 65.25 on 27 March 2015.

Neyveli Lignite Corporation said that Unit I, 250 megawatts (MW) of Thermal Power Station-II expansion project (2x250 MW) at Neyveli, has been successfully declared for commencement of commercial operation with effect from 5 July 2015. With commissioning of this unit, the TPS-II Expansion Project (500 MW) is put into commercial operation. The project is the nation's first project of this size with circulating fluidised bed combustion {CFBC) boiler technology.

Neyveli Lignite Corporation's net profit rose 36.9% to Rs 676.81 crore on 13.7% rise in total income to Rs 2204.45 crore in Q4 March 2015 over Q4 March 2014.

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