Business
PSU NLC India’s board approves listing of its renewable arm as govt set to divest up to 25% stake
The company also announced an interim dividend of Rs 3.60 per equity share for the financial year 2025-26. It has fixed the record date on January 16, 2026 to determine shareholders eligible for receiving the dividend.
The company also gave in-principle approval to invest up to Rs 66.60 crore in one or more tranches in NLC India Renewables by way of subscription to equity shares.
The PSU stock has been a market laggard with returns of 6% over a one-year period, while the benchmark Nifty delivered 10% returns in the same period.
However, the Navratna company is a multibagger with a stellar 3-year returns of 215%. The stock is currently trading above its 50-day and 200-day simple moving averages (SMAs) of Rs 251 and 245, respectively according to Trendlyne data.
NLC India is a public sector enterprise under the Ministry of Coal, primarily engaged in lignite mining and power generation, with a growing footprint in renewable energy. Incorporated in 1956 and headquartered in Neyveli, Tamil Nadu, the company is expanding solar and wind capacity in line with India’s energy transition goals.
The company is yet to announce its December quarter earnings. Its consolidated net profit in the September quarter fell 27% to Rs 665 crore compared to Rs 912 crore reported by the company in the year ago period. The total revenue stood at Rs 4,347 crore in the quarter under review, marginally down from Rs 4,370 crore in the corresponding quarter of the last financial year.Also Read: Stock market holiday: Will Bharat Coking Coal IPO listing on January 16 get affected?
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
