NLC India gains after unit signs pact for 810 MW solar project

NLC India

07/05/2025 07:33

** Shares of NLC India NLCI.NS rise 2.5% to 223.21 rupees

** Power generation co's unit signs power purchase agreement with Rajasthan Rajya Vidyut Utpadan Nigam for its upcoming 810 MW solar power project at Pugal solar park in Rajasthan state

** Solar project expected to generate approximately 2 bln units of power per year

** Also, co signs memorandum of understanding with IREL (India) to develop assets of critical mineral, including rare earth elements, by acquiring assets and sourcing raw materials domestically or internationally

** Stock set to snap five-session losing streak

** NLCI down ~10% YTD

(Reporting by Vijay Malkar)

((VijayDattaram.Malkar@thomsonreuters.com;))