India's NLC India rises on thermal power station joint venture

NLC India

30/08/2024 07:26

** Shares of NLC India Ltd  NLCI.NS  rise as much as 2.5% to
281.65 rupees 
    ** Co entered into JV agreement with Rajasthan Rajya Vidyut
Utpadan Nigam (RVUNL) for setting up of lignite based thermal
power station in Rajasthan and to develop mines
    ** Adds, in-principle approval to form JV co for developing
renewable power projects of capacity upto 2,000 MW also
    ** Stock on track to snap 2 days of losses and gain for 2nd
straight week
    ** More than 1 mln shares traded as of 11:51 a.m. IST, vs
their 30-day moving avg of almost 5 mln shares
    ** NLCI gained ~0.4% this week so far, adding to YTD gains
of ~9.2%

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))