Power Generation Company Signs Power Usage Agreement For Supply Of 200 MW Green Power To Telangana State
The stock gave multibagger returns of 115 per cent in just 1 year and a whopping 440 per cent in 3 years.
NLC India Limited, a Navratna Government of India Enterprise under the Ministry of Coal and the first CPSE to reach 1 GW Solar Power generation in the country has signed a power usage agreement at Hyderabad, with Telangana State DISCOMs for 200 MW Solar Power at a competitive and affordable price under CPSU scheme for 25 years.
NLCIL's Solar Project is set to generate around 1,300 Crore units of green power and offset 90 Lakh Tons of Carbon emission in its lifetime. The project will be developed with state-of-the-art equipment including single-axis trackers and domestic high-efficiency modules aimed at achieving higher generation under Atma Nirbhar Bharat (Make in India). The project is set to be commissioned by June 2025.
This association comes with the twin advantage of cheap green power and meeting the Renewable purchase obligation of Telangana State. NLCIL has already been supplying more than 234 MW of affordable thermal power to the State of Telangana for more than three decades and this association in Renewables is the mark of the start of a long journey, for both the State of Telangana and NLCIL towards a Sustainable future.
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About NLC India Ltd
NLC India Ltd is a government-owned company in India primarily involved in lignite mining and thermal power generation. It operates mines in Tamil Nadu and Rajasthan, using lignite to produce electricity. This power is then sold to various states in India, including Tamil Nadu, Rajasthan, Andhra Pradesh, Kerala, Karnataka and Puducherry. As a Navratna company, NLC India holds a significant position in the Indian energy sector.
On Thursday, shares of NLC India Ltd plunged 0.72 per cent to Rs 274.15 per share with an intraday high of Rs 287.95 and an intraday low of Rs 273.45. The shares of the company have a PE of 19x whereas the industry PE is 35x. The stock’s 52-week high is Rs 311.65 while its 52-week low is Rs 117.
The company has a market cap of over Rs 38,000 crore and has been maintaining a healthy dividend payout of 25.4 per cent. The stock gave multibagger returns of 115 per cent in just 1 year and a whopping 440 per cent in 3 years. Investors should keep an eye on this multibagger power generation stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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