Government of India-owned power stock announces green initiative; company stock price zoomed 9 per cent in a day!

This is a large-cap company with a market capitalization of Rs 28,680 crore and currently trading at Rs 207.

NLC India Ltd is at the forefront of environmental initiatives with its latest project: an M-Sand plant that utilizes mine overburden to produce construction sand. This innovative approach aligns with the Indian government's "Waste to Wealth" concept and promotes sustainable mining practices.

A Bhoomi Puja ceremony marked the official start of the project on December 12, 2023. The plant, located at Neyveli's Mine-IA, is expected to produce a significant 2.62 lakh cubic meters of construction-grade M-Sand annually, addressing the growing scarcity of natural sand. Its operational launch is targeted for the end of January 2024.

NLCIL Chairman and Managing Director, Shri Prasanna Kumar Motupalli, emphasized the project's environmental benefits and its potential for expansion. Similar and larger capacity plants are planned for other NLC India mines in the future. This initiative marks a significant step towards responsible mining and resource utilization, setting a positive example for the industry.

In today's day trading session, market participants witnessed significant volatility, with NLC India Ltd displaying dynamic price movements. The stock opened at Rs 190.8 and reached a high of Rs 212.6, experiencing fluctuations between the intraday low of Rs 190.1 and the current market price (CMP) of Rs 207.2. This considerable price action reflects a 9.69 per cent increase from the previous close of 188.9.

This is a Large-Cap company with a market capitalization of Rs 28,680 crore and currently trading at Rs 207. This stock has generated multibagger returns of 3,600 per cent in a decade. The company has been maintaining a healthy dividend payout of 27 per cent.

About Company

NLC India is engaged in the business of mining of lignite and generation of power by using lignite as well as Renewable Energy Sources.

Disclaimer: The article is for informational purposes only and not investment advice.