NLC India shares climbed over 3% in early trading on August 29 following the company’s announcement of a power usage agreement in Hyderabad.
As of 09:23 am, NLC India was trading at ₹286.50 on the BSE, reflecting a 3.75% increase.
The accord signed with Telangana State DISCOMs is about a 200 MW solar power project, which would be developed under the CPSU scheme. The 25-year proposed project would yield about 1,300 crore units of green power and mitigate around 90 lakh tons of carbon emissions during its lifespan.
NLCIL also proposes to adopt the latest technologies such as single-axis trackers and domestically produced high-efficiency modules under the Atma Nirbhar Bharat Make-in-India initiative. The project is likely to be commissioned by June 2025.
The financial performance of the company continued to be strong, with the net profit growing 38% to ₹559.42 crore for the quarter ended June 2024.
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Source: Moneycontrol
News Desk
