NLC India extends Wednesday's rally

NLC India rose 2.04% to Rs 107.75 at 12:27 IST on BSE, with the stock extending Wednesday's rally triggered by the company reporting strong Q4 March 2017 results.

Meanwhile, the S&P BSE Sensex was up 2.81 points, or 0.01% at 31,148.61.

On the BSE, 43,000 shares were traded on the counter so far as against the average daily volumes of 75,250 shares in the past one quarter. The stock had hit a high of Rs 108.90 and a low of Rs 105.50 so far during the day.

The stock had hit a 52-week high of Rs 123 on 23 March 2017 and a 52-week low of Rs 68.05 on 3 June 2016. The stock had underperformed the market over the past one month till 31 May 2017, gaining 0.09% compared with the Sensex's 4.1% rise. The scrip had, however, outperformed the market over the past one quarter advancing 14.35% as against the Sensex's 8.36% rise.

The large-cap company has equity capital of Rs 1528.75 crore. Face value per share is Rs 10.

Shares of NLC India have rallied 8.45% in the two trading sessions from its close of Rs 99.35 on 30 May 2017, after the company after market hours on Tuesday, 30 May 2017 reported strong Q4 March 2017 results. The stock had surged 6.29% to settle at Rs 105.60 yesterday, 31 May 2017.

NLC India's net profit surged 277.9% to Rs 1501.47 crore on 55.2% increase in net sales to Rs 2841.86 crore in Q4 March 2017 over Q4 March 2016.

NLC India operates lignite mines, pithead thermal power stations and also has operations in renewable energy sector.

As per the shareholding pattern as on 31 March 2017, the Government of India held 89.33% stake in the company.

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