NLC India up 4% on emerging successful bidder for Patrapara Mine in Odisha

NLC India shares jumped 3.6 per cent in Monday's trade and logged an intraday high at Rs 276.3 per share. The stock climbed after the company was declared as a successful bidder by the Ministry of Coal (MoC) for New Patrapara South Coal Mine in Odisha. 

 

Around 10:54 AM, NLC India share price was up 1.99 per cent at Rs 271.9  per share. In comparison, BSE Sensex was down 0.24 per cent at 81,510.13. The market capitalisation of the company stood at Rs 37,716.52 crore. The 52-week high of the company was at Rs 311.65 per share and the 52-week low was at Rs 177.5 per share. 

 

"NLC India Limited is declared as Successful Bidder by the Nominated Authority / Ministry of Coal (MoC) for New Patrapara South Coal Mine in Odisha," the filing read.

 

It added: This is the third commercial coal mine for NLC India. The coal mine block is having a total geological reserve of around 720.87 million tonnes with a peak-rated capacity of 12 million tonnes per annum. 

 

NLC India is a government-owned company under the administrative control of the Ministry of Coal, Government of India. It is a Navratna company primarily engaged in mining lignite and generating thermal and renewable energy. 

 

Headquartered in Neyveli, Tamil Nadu, NLC India operates large open-cast lignite mines and several thermal power plants. The company is also expanding its portfolio into solar and wind energy projects to contribute to India's renewable energy goals.

 

The company was established in 1956 and has since become one of India’s major energy producers. The company operates several lignite mines, with an annual mining capacity exceeding 50 million tonnes, and thermal power plants with a total installed capacity of over 6000 MW. It has also diversified into renewable energy, developing solar and wind energy projects with a combined installed capacity of over 1,400 MW.

 

It plays a vital role in meeting the country’s energy needs, particularly in southern India, and supports infrastructure development in the regions where it operates. The company also contributes significantly to socio-economic development through its corporate social responsibility (CSR) initiatives, focusing on education, healthcare, sanitation, skill development, and environmental conservation.

 

In the past one year, NLC India shares have gained 38.6 per cent against Sensex's rise of 17 per cent.