300 MW Solar Project: This power generation company entered into long term power usage agreement with Rajasthan Urja Vikas Nigam Limited!

The stock is up by 75 per cent in 1 year and over 150 per cent in 2 years.

NLC India Limited, a Navratna Central Public Sector Undertaking under the administrative control of the Ministry of Coal is presently having 1,421 MW of renewable energy capacity. As per the corporate plan of the company, it contemplates establishing a 6,031 MW capacity by 2030. The company has secured 510 MW solar project capacity in the CPSU Scheme Phase11 Tranche-III floated by Indian Renewable Energy Development Agency (IREDA) through competitive bidding. 300 MW Solar project capacity is under execution at Barsingsar, Bikaner District, Rajasthan. The EPC contract for the project has been awarded to TATA Power Solar Systems Ltd through competitive bidding.

The Power to the tune of 750 million units is to be generated annually from the project and the total green power generated will be supplied to the State of Rajasthan. The project will help the State of Rajasthan in meeting its renewable purchase obligation targets. The power generated from the project will help in the reduction of carbon emissions to the tune of 0.726 million tonnes of carbon dioxide emissions every year. On the renewable energy front, in addition to the present 1.40 GW capacity in Tamil Nadu, this is the first time NLCIL expanding its footprint of this capacity in other states.

On Friday, shares of NLC India Ltd plunged 1.48 per cent to Rs 123.40 per share with an intraday high of Rs 129.40 and an intraday low of Rs 119. The shares of the company have a PE of 13.6x whereas the industry PE is 32.9x. The company has a market cap of over Rs 17,000 crore.

The stock is up by 75 per cent in 1 year and over 150 per cent in 2 years. Investors should keep an eye on this multibagger Mid-Cap stock.

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