NLC India Ltd Share Price – NSE /  BSE

Power Generation & Distribution, Small Cap

NLC India has commenced commercial operations of the first unit of its 3 x 660 MW Ghatampur Thermal Power Plant (GTPP) in Uttar Pradesh, developed through Neyveli Uttar Pradesh Power (NUPPL), a joint venture with Uttar Pradesh Rajya Vidyut Utpadan Nigam (UPRVUNL).

The first unit successfully completed its trial operation on 07 December 2024, and started commercial operations from 00:00 hours on 12 December 2024. This milestone represents NLCIL's first venture into supercritical power generation technology, a major leap in enhancing the company's energy portfolio.

Notably, this 660 MW capacity addition is significant as it marks the first fossil fuel-based Thermal Power Plant commissioned in India in this financial year.

With the commercial operation of the first 660 MW unit of the greenfield Ghatampur Thermal Power Station, the total installed power generation capacity of NLC India and its group companies has increased from 6,071 MW to 6,731 MW.

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The headline equity indices traded in a narrow range with substantial losses in mid-afternoon trade. The Nifty hovered below the 23,350 mark. Media shares declined after advancing in the past trading session. Trading was volatile due to the weekly F&O series expiry today.

At 14:26 IST, the barometer index, the S&P BSE Sensex, declined 455.86 points or 0.59% to 77,122.89. The Nifty 50 index lost 178.35 points or 0.76% to 23,340.15.

In the broader market, the S&P BSE Mid-Cap index shed 0.19% and the S&P BSE Small-Cap index fell 0.57%.

The market breadth was weak. On the BSE, 1,180 shares rose and 2,750 shares fell. A total of 112 shares were unchanged.

Buzzing Index:

The Nifty Media index dropped 2.03% to 1,905.95. The index advanced 2.45% in the previous trading session.

Tips Music (down 3.99%), Saregama India (down 3.65%), Dish TV India (down 2.24%), Zee Entertainment Enterprises (down 1.96%), PVR Inox (down 1.89%), Sun TV Network (down 1.78%), Nazara Technologies (down 1.21%), Den Networks (down 1.17%) and Hathway Cable & Datacom (down 1.04%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper gained 1.91% to 6.940 as compared with the previous close of 6.810.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 84.4825, compared with its close of 84.4275 during the previous trading session.

MCX Gold futures for the 5 December 2024 settlement rose 0.70% to Rs 76,569.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.01% to 106.67.

The United States 10-year bond yield fell 0.11% to 4.401.

In the commodities market, Brent crude for November 2024 settlement gained 80 cents or 1.10% to $73.61 a barrel.

Stocks in Spotlight:

NLC India (NLCIL) jumped 4.11% after the company’s board approved to invest Rs 3,720 crore in its wholly owned subsidiary, NLC India Renewables (NIRL) in one or more tranches for the various renewable projects.

Tata Technologies slipped 1.13%. The company has signed a memorandum of agreement (MoA) with Department of Industries & Commerce, Government of Tripura, Secretariat, Agartala, for ITI Upgrade project for upgrading 19 ITI across Tripura for Rs 95.65 crore.

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The company’s board has also approved to acquire 100% stake in NIRL by way of subscribing the equity shares for transferring of renewable assets to NIRL under asset monetization plan at its book value subject to other approvals required in this regard.

NIRL will develop renewable power projects in Gujarat & Rajasthan and will carry out the existing renewable power projects of NLCIL under Asset Monetisation Plan.

The net book value of renewable energy assets in the books including CWIP of the ongoing projects of NLC as on 30.09.24 is Rs 6,263 crore.

NLC India is a 'Navratna' government of India company in the fossil fuel mining sector in India and thermal power generation. As of 30 September 2024, the Government of India held 72.20% stake in the company.

The company’s consolidated net profit declined 15.9% to Rs 911.85 crore despite of 22.8% increase in revenue from operations to Rs 3,657.27 crore in Q2 FY25 over Q2 FY24.

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Net profit of NLC India declined 15.94% to Rs 911.85 crore in the quarter ended September 2024 as against Rs 1084.70 crore during the previous quarter ended September 2023. Sales rose 22.83% to Rs 3657.27 crore in the quarter ended September 2024 as against Rs 2977.53 crore during the previous quarter ended September 2023.

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