Page 2 - Nlc India

NLC India aims to start early mining of Odisha's Machhakata coal block

State-owned NLC India Ltd is aiming to start the mining of Machhakata coal block in Odisha ahead of schedule. Machhakata coal block is the second commercial coal block and the biggest among the NLCIL's mining projects. NLC India Ltd (NLCIL) had emerged as the successful bidder for Machhakata (Revised) coal block in Angul district of Odisha under the commercial coal block e-auction held in July. The Machhakata coal block, having reserves of 1.4 billion tonnes (BT), with average Grade of G10-G11, and capacity of 30 MTPA, is expected to be one among the top five biggest mines in the country, NLCIL said in a statement. "NLCIL aims to commence the mining ahead of schedule. This marks another milestone towards realising NLCIL's Corporate Plan 2030," the statement added. Machhakata Coal Block's vesting order was issued on Thursday. The company had earlier said that it is committed to its capacity addition in line with its vision of achieving more than 100 million tonnes per annum (MTPA)

NLC India Ltd Q1FY25 results: Net profit rises 37% to Rs 566.69 cr

NLC India Ltd on Wednesday reported a 37 per cent rise in consolidated profit at Rs 566.69 crore for the quarter ended June 30, 2024. The company had posted a net profit of Rs 413.57 crore in the year-ago period, NLC India Ltd said in a filing to BSE. The income of the company in the April-June period rose to Rs 3,640.60 crore, over Rs 3,428.48 crore in the year-ago period, the filing said. The company said that the board has approved raising the investment limit in the equity shares of Nevyeli Uttar Pradesh Power Ltd (NUPPL) from Rs 2,637.38 crore to Rs 3,676.00 crore in one or more tranches. However, this is subject to approvals from the coal ministry and DIPAM among others. NUPPL is a joint venture of NLC India Ltd (NLCIL) and Uttar Pradesh Rajya Vidyut Nigam Ltd (UPRVUNL). The board has also approved to increase the investment limit in the equity shares of NLC India Green Energy Ltd (NIGEL) from Rs 50 crore to Rs 1,500 crore in one or more tranches subject to approvals from t

NLC India to raise funds via IPO of arm for clean energy expansion: CMD

Lignite-to-power producer NLC India Ltd (NLCIL) is planning to raise funds through an initial public offering (IPO) of its wholly owned subsidiary NLC India Renewables Ltd by the first quarter of the next financial year, company's Chairman and Managing Director (CMD) Prasanna Kumar Motupalli said. In an interview to PTI here, the CMD said the PSU is planning to ramp up its renewable energy capacity from the current 1.4 GW to 6 GW by 2030. The funds raised via the IPO will be used in its clean energy expansion plans, he said. The company also plans to arrange soft loans from foreign companies and banks for this purpose, the CMD explained. "As on date... the existing assets of NLCIL are to be transferred to that company (NLC India Renewables Ltd). For transfer of that assets, some exemption is required from the Government of India. So that process is on. "So, we are expecting to get that clearance from the government by around October. In the first quarter of the next financial year

NLC India bags Odisha coal mine with 1.38 billion tonnes capacity

State-owned NLC India Ltd on Monday said that it has bagged a coal mine in Odisha. The coal produced from the mine will address the energy security of the country. The coal mine has total reserves of around 1.38 billion tonnes with an operatable peak-rated capacity of 30 million tonnes per annum (MTPA). "NLC India Ltd has emerged as the successful bidder for the Machhakata (revised) coal mine in Angul district of Odisha in the eighth round of commercial coal block e-auction," the company said in a statement. This is the second coal mine won by the public sector enterprise after North Dhadu coal block (Western Part). The company said that it is committed to its capacity addition in line with its vision of achieving more than 100 MTPA by 2030 from the present 50 MTPA. NLC India's core business is mining and power generation. Meanwhile, the coal ministry on Monday executed the Coal Mining Development and Production Agreements for three coal mines that were auctioned. The mines for

Stocks to watch on July 8: NLC India, IndusInd Bank, BoB, JM Fin, Marico

Stocks to watch on July 8: Induslnd Bank's Q1FY25 estimates highlighted significant YoY growth. Net advances increased by 16 per cent Y-o-Y to Rs 3.48 trillion, while deposits grew by 15 per cent

Bondada Engineering locks in 5% upper circuit after LoA from NLC India

Bondada Engineering stock price surged up to 5 per cent, locking at its upper circuit at Rs 2320.80 per share on the BSE in Thursday's morning deals

NLC India shares slip 5% on plans to raise $600 mn foreign currency loan

NLC India's board of directors are set to meet on June 10, 2024 to consider and approve foreign currency loan through external commercial borrowings (ECB) up to $600 Million

M&M, Berger Paints, Mankind Pharma among six stocks to monitor on May 16

At 6:40 AM, GIFT Nifty futures were up by 90 points, trading at 22,377.50 levels compared to Nifty50 futures, indicating a gap-up opening for the stock exchanges

NLC India planning to sell renewable assets worth estimated $720 Million

The Chennai-based miner and electricity generator also plans to double its coal and lignite output by 2030

M&M promoter group entity sells 0.7% stake, Tata Chemicals gains 11%, more

Shares of Mukka Proteins, an aqua feed producer, surged more than 50 per cent during their trading debut on Thursday

Coal India, BHEL may sizzle on this announcement by govt; details here

Stocks to Watch on March 7: The Ministry of Coal has issued three draft request for proposals (RFPs) for consultation on coal gasification scheme

Why is NLC India among top stocks to be watched today? Read here

Stocks to Watch on March 7: The government will sell up to 7 per cent stake in NLC India through an offer for sale (OFS) to raise up to Rs 2,100 crore

Stocks to watch: Infosys, LIC, NLC India, Mukka Proteins, Zomato

Stocks to track on March 07, 2024: Mukka Proteins is set to make its stock market debut on Thursday at an issue price of Rs 28 per share

Govt to sell up to 7% stake in coal miner NLC India this week: Report

Government is selling over 9.7 crore shares at a floor price of Rs 212 apiece. If fully subscribed, including the green shoe option, the share sale would fetch about Rs 2,000 crore to the exchequer

NLC India jumps 5% as ICRA reaffirms rating on NCDs worth Rs 2,000 cr

That apart, NLC India has also participated in the bidding for 20 blocks in the initial phase of the auction for critical mineral blocks in India.

Coal India may exceed capex target of Rs 16,500 crore for FY24: Govt

The government of Wednesday said the state-owned Coal India Ltd (CIL) is likely to exceed its capex target of Rs 16,500 crore for the current financial year. Coal India accounts for over 80 per cent of domestic coal output. "As we navigate through the current fiscal year of 2023-24, both CIL and NLCIL are on track to exceed their capex targets yet again... both CIL and NLCIL will exceed their annual capex targets, further bolstering India's economic growth trajectory," the coal ministry said in a statement. The capex target of NLC India Ltd (NLCIL) for the ongoing financial year is Rs 2,880 crore. The Ministry of Coal's capex target for FY24 is Rs 21,030 crore. Over the past few years, coal Central Public Sector Enterprises (CPSEs) have been over-achieving their capex targets. In FY22, CIL and NLCIL had achieved 104.88 per cent and 123.33 per cent of their capex targets, respectively. In FY23, both companies achieved around 113 per cent of their target. NLC India is a Navratna

NLC India Q3 results: Profit at Rs 254 cr, income declines to Rs 3,249 cr

NLC India on Tuesday reported a consolidated profit of Rs 254.10 crore for the quarter ended on December 31, 2023. The company had posted a consolidated loss of Rs 396.35 crore in the year-ago period. The consolidated income of the company during October-December period declined to Rs 3,249.391 crore from Rs 3,982.49 crore in the year-ago period, NLC India said in a filing to BSE. In a statement, the PSU said that NLCIL incorporated a new wholly-owned subsidiary NLC India Green Energy Ltd (NIGEL) to undertake green projects. NLC India is a Navratna company under the coal ministry. Its core business is mining and power generation.

Nalco, NLC India among 10 companies submit bids for coal mines for auction

The government on Monday said 10 companies, including Nalco, Gujarat Mineral Development Corporation, and NLC India, submitted bids for coal mines put up for sale under the eighth round of commercial mines auction. "Under the 8th round, a total of 35 coal mines were put up for auction and 7 bids were received against four coal mines. Under the second attempt of the seventh round, four coal mines were put up for auction and 3 bids have been received against 3 coal mines," the coal ministry said in a statement. A total of 10 companies have submitted bids in the auction process, the coal ministry said in a statement. Other companies from which the bids were received are TANGEDCO, OCL Iron, and Steel Ltd, JMS Mining Pvt Ltd, Shyam SEL & Power Ltd, SMN Tradecomm Pvt Ltd, Maa Durga Coal & Minerals Pvt Ltd, and Nilkanth Infra Mining Ltd. "The nominated authority, Ministry of Coal has opened bids for the 8th round and second attempt of the 7th round of commercial coal mines' auction ..

PM lays foundation stone for 1st phase of NLC India Talabira power project

Prime Minister Narendra Modi laid the foundation stone of the first phase of NLC India Talabira Thermal Power Project in Odisha. Odisha Governor Raghubar Das, Odisha Chief Minister Naveen Patnaik and several Union ministers including Dharmendra Pradhan and Ashwini Vaishnaw were present on the occasion, NLC India said in a statement on Saturday. "The government will always ensure to fulfil its promises. This government doesn't just lay the foundation stone of any project; it makes sure to inaugurate it. This thermal power project will ensure Odisha gets round-the-clock electricity supply and also open up employment opportunities for the youth," Modi said. With an estimated investment of over Rs 27,000 crore, this coal-based Ultra Super Critical Pit Head thermal power project signifies a monumental step towards fostering energy security and driving the nation's growth trajectory. The project encompasses a 2,400-MW capacity in its initial phase and plans for an additional 800 MW in th

BHEL surges 6% on buzz of winning Rs 19,422 cr order from NLC India

The stock was seen trading at its highest level since October 2015, backed by strong volumes on the BSE and NSE.