NLC India hits 52-week high on building a new M-Sand Plant

On Wednesday, NLC India shares surged 12.45% to hit a fresh 52-week high of Rs 212.65 from its previous closing of Rs 189.10 on the BSE.

Towards Green Initiative 

Continuing its dedication to environmental sustainability, NLC India is building a new M-Sand Plant. This plant aims to address the scarcity of natural sand for construction by producing 2.62 lakh cubic meters of civil construction-grade M-Sand annually from mine overburden. Aligning with the Ministry of Coal’s directives, this project represents a significant step towards sustainable practices within the construction industry.

Scheduled to begin operations by January 2024, the plant is seen as the first of its kind in the lignite mining industry. NLC India Ltd. also has plans to establish similar or larger plants in other mines at Neyveli, highlighting their commitment to exploring and expanding this environmentally friendly initiative.

Company profile 

Incorporated in November 1956, NLC India Ltd (NLCIL) is engaged in the business of mining of lignite and generation of power by using lignite as well as renewable energy sources. It is a Navratna Government corporation in the fossil fuel mining sector in India and thermal power generation under the ownership of the Ministry of Coal, Government of India.

Stock price movement 

Today, the shares of NLC India closed at Rs 207.05, up by 9.49% from its previous closing. The stock opened at Rs 190.55 and has touched a high and low of Rs 212.65 and Rs 190.50 respectively. The BSE group ‘A’ stock of face value of Rs 10 has a 52-week high and low of Rs 212.65 and Rs 69.79, respectively. Last one week high and low of the scrip stood at Rs 212.65 and Rs 177.50 respectively. The current market cap of the company is Rs 28,703.38 crore.

The promoters holding in the company stood at 79.20%, while Institutions and Non-Institutions held 14.44% and 6.37%, respectively.

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