Neyveli Lignite shares gain 5.5% as Q1 net rises

Shares of Neyveli Lignite Corporation (NLC) today rose by 5.5 per cent after the company reported a 9.83 per cent rise in standalone net profit for the quarter ended June 30.
The stock gained 5.59 per cent to settle at Rs 89.65 on the BSE. During the day, it surged 11 per cent to Rs 94.25.
On the NSE, shares of the company rose by 5.69 per cent to end at Rs 89.95.
The company's market valuation went up by Rs 797.67 crore to Rs 15,040.67 crore.
In terms of volume, 8.59 lakh shares of the company changed hands on the BSE and over 32 lakh shares were traded on the NSE during the day.

State-run Neyveli Lignite Corporation today reported a 9.83 per cent rise in standalone net profit at Rs 366.90 crore for the quarter ended June 30, on the back of higher income.
The company's net profit in the year-ago period was Rs 334.06 crore, NLC said in a regulatory filing.
The total income from operations of the company increased to Rs 1,843.74 crore compared with Rs 1,510.45 crore in the corresponding quarter of the previous fiscal, it said.