NLC India gains after unit forms joint venture with PTC India

PTC India

18/09/2026 07:52

** Shares of NLC India NLCI.NS rise 2% to 267.60 rupees, while shares of PTC India PTCI.NS fall 1.1% to 154.16 rupees
**  State-owned mining and power enterprise NLC India says unit NLC India Renewables NLCD.NS formed joint venture with power trading solutions co PTC India   
** NLC India adds joint venture, which will set up green energy projects, is owned 74% by its unit, which is in the process of filing for an IPO, and 26% by PTC India
** The divergence in share reaction in NLC India and PTC India is because the JV is seen as a strategic expansion and new addition to NLC India's clean energy portfolio while the latter is viewed as a minor passive stakeholder without major upside, said two traders
** NLC India stock up 7% YTD; PTC India stock down 4.5% YTD


 (Reporting by Payel Das in Bengaluru)
 ((Payel.das@thomsonreuters.com))