Coal miner NLC India slips after board defers proposal to raise loan

NLC India

28/03/2024 09:56

** Shares of coal miner NLC India  NLCI.NS  down 2.2%,
trimming losses from session-low drop of 3.4% 
    ** Co's board deferred proposal to raise foreign currency
loan upto $600 million through direct route
    ** Also deferred in-principle approval to seek assistance
from multilateral development banks for upcoming renewable power
projects
    ** Stock on track to snap three straight quarters of gains,
last down 9.7%  
    ** YTD stock has shed ~10% after a 194% jump in 2023 - its
third straight annual gain 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))