Shares of NLC India fell over 3% on Wednesday despite strong demand for the government’s Offer for Sale (OFS), which was oversubscribed on the first day. The offer opens for retail investors today.

Non-retail investors bid for over 13.03 crore shares worth Rs 4,158 crore, as against a base offer size of 2.49 crore shares reserved for them.

Shares of the Navratna PSU company tumbled more than 3% to trade at Rs 316.6 apiece on NSE.

NLC India announced on Monday that the government aims to sell 2% of the company’s total paid-up equity capital, or 2.78 crore shares, as part of the base offer.

The government also retained an oversubscription option to sell an additional 1% stake or 1.39 crore shares, taking the total potential offer size to 4.17 crore shares or 3% equity. At the floor price of Rs 303 per share, this would be worth around Rs 1,263.51 crore.

In an exchange filing released on Tuesday, NLC India said that the government will exercise the oversubscription option to sell up to 1.39 crore shares, in addition to the 2.77 crore shares that were part of the base offer. 10% of the equity shares offered in the OFS, which stands at nearly 41.52 lakh, will be available for retail investors today, subject to receipt of valid offers, the company said.
“Additionally, up to 25,000 equity shares may be offered to the eligible employees of the company…The eligible employees may apply for equity shares up to Rs 500,000. However, any bids by eligible employees will be considered for allocation, in the first instance, for an amount up to Rs 200,000 only,” it said.Also read: NLC India OFS over-subscribed 5 times, institutional buyers put in Rs 4,158 cr bids

NLC India, formerly known as Neyveli Lignite Corporation, is among India’s leading mining and power generation companies. It operates lignite mines and thermal power stations while also expanding its renewable energy portfolio. The company has emerged as a beneficiary of India’s rising power demand and the government’s focus on energy security. In recent years, the company has diversified beyond lignite mining into solar and other renewable energy projects as part of its long-term growth strategy.

NLC India shareholding pattern

The Central government owned a 72.20% stake in NLC India, according to data on the company’s shareholding pattern as on March 31, 2026. A total of 22 mutual funds held around 9.5% stake in NLC India, while Life Insurance Corporation of India (LIC) and SBI Life Insurance each held around 2% stake.

NLC India’s OFS comes as the government ramps up its disinvestment efforts. Recently, the government offloaded some of its stake in Coal India, NHPC and other PSU companies.

NLC India share price

NLC India shares have fallen around 8% in one week and 3% in one month. The stock is overall up around 25% in 2026 so far. In the longer term, the shares of the PSU have delivered 33% returns over one year, 220% over three years and 396% over five years. The company currently has a market capitalisation of nearly Rs 44,303 crore.

NLC India has maintained a track record of returning cash to shareholders through regular dividends. The company has declared 43 dividends since August 2000, and currently has a dividend yield of 1.6%, according to data on Trendlyne.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Shares of Dixon Technologies (India) gained over 1% to Rs 11,738 on the BSE on Wednesday after its subsidiary, Dixon Electroconnect, entered into an agreement with Gemtek Technology to form a joint venture in India for manufacturing and supplying optical transceivers and other telecom products.

According to the company, the proposed venture will manufacture and supply Optical Transceiver-SFP (Small Form-Factor Pluggable), BOSA (Bidirectional Optical Subassembly), and other telecom products that the parties mutually agree upon from time to time.

The proposed transaction will use a mutually agreed structure where Dixon Technologies will hold 60% of Dixon Electroconnect’s total paid-up share capital, while Gemtek will hold the remaining 40% stake upon completion.

The transaction remains subject to executing definitive agreements, fulfilling customary conditions precedent, and receiving applicable statutory, regulatory and other required approvals.

In its statement, Dixon said the proposed joint venture would focus on manufacturing optical transceivers, BOSA modules and networking equipment. The company stated that the partnership combines Dixon’s manufacturing capabilities with Gemtek’s experience in optical modules, telecom infrastructure and networking technologies.

Gemtek, in its statement, said the joint venture is part of its expansion in optical communication and aims to address demand related to high-speed networks and data centre infrastructure.
The company also stated that Dixon Electroconnect’s participation as a beneficiary under the ECMS is expected to support the proposed venture. The partnership is intended to operate in segments linked to data centres, telecom infrastructure, optical connectivity, cloud computing, edge computing and networking applications.Dixon Technologies reported a consolidated net profit at Rs 256 crore in the March-ended quarter versus Rs 401 crore in the year-ago period, implying a 36% fall. The profit after tax (PAT) was attributable to the company’s owners. The company’s revenue from operations in Q4FY26 was up 2% to Rs 10,511 crore versus Rs 10,293 crore posted in the corresponding quarter of the previous financial year.

Meanwhile, the company’s total income grew 3% year-on-year to Rs 10,595 crore versus Rs 10,304 crore in Q4FY25. It included other income of Rs 84 crore compared to Rs 11 crore in the year-ago period.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

CleanMax Enviro Energy Solutions shares jumped 15% to a fresh 52-week high of ₹1,421.20 on the NSE on Wednesday after the company announced a 900 MW renewable energy partnership with Meta Platforms.

CleanMax will develop and operate the new renewable energy capacity, which includes large-scale solar and wind projects. Meta will purchase 100% of the environmental attributes from these projects. The renewable energy initiatives support Meta’s efforts to add new generation capacity to the grid and advance its goal of matching its electricity use with 100% clean and renewable energy.

“The announcement builds on an existing relationship between the two companies and reflects the growing role of innovative corporate procurement models in accelerating India’s energy transition,” a company press release said.

Kuldeep Jain, Founder and Managing Director of CleanMax Enviro Energy Solutions Limited, said, “Meta connects billions of people every day through platforms such as Facebook, Instagram, WhatsApp, and Threads while helping shape the future of digital and AI infrastructure. We are thrilled to partner with Meta. Every generation builds infrastructure that defines its future. For us, that infrastructure is increasingly digital, AI-driven, and interconnected. It must also be powered by clean energy. We look forward to supporting Meta’s renewable energy ambitions while contributing to India’s clean energy transition.”

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Amanda Yang, Head of Clean and Renewable Energy at Meta, said, “These agreements represent meaningful progress in supporting our renewable energy goals in the region. We’re pleased to continue working with CleanMax to help bring new renewable energy capacity onto the grid in India and support the growth of the country’s clean energy ecosystem.”
CleanMax Enviro Energy Solutions is India’s largest pure-play commercial and industrial renewable energy company, with more than 15 years of operations. The company’s contracted renewable energy portfolio reached 5.7 GW in FY25, with approximately 74% of new contracted capacity driven by existing customers, reflecting strong retention and long-term business visibility.

Thailand has emerged as one of the world’s fastest‑advancing countries in workplace AI adoption, recording the second‑highest growth rate globally, according to new data released at the Microsoft AI Tour Bangkok 2026.

The country’s AI adoption among workers grew 36.4% year‑on‑year, trailing only South Korea and far outpacing the global average of 17.8%

Microsoft Thailand Managing Director Dhanawat Suthumpun said the nation’s overall AI adoption rate has now reached 12.4%, reflecting rising readiness among Thai workers to integrate AI into daily tasks and business processes.

Data Workers and Executives Lead the Shift

AI usage among Thai data workers has climbed to 32%, double the global average, while 51% of Thai executives now demonstrate a clear strategic direction for AI deployment—again nearly twice the global benchmark.

Microsoft’s Global AI Diffusion report shows that serious AI adoption in Thailand rose from 9.1% in early 2025 to 12.4% in Q1 2026, placing the country second globally for growth in the share of AI users, behind South Korea (43.2%) and ahead of Japan (34.1%) .

The Work Trend Index 2026 further highlights that 32% of Thai employees qualify as “Frontier Professionals”—advanced AI users—double the global average of 16%.

Strong Momentum but Significant Untapped Potential

Despite rapid progress, Microsoft notes that 87.6% of the Thai population—particularly in manufacturing, agriculture, healthcare, and education—has yet to adopt AI in daily life or work, leaving substantial room for expansion.

The company believes Thailand is now moving beyond experimentation and into a phase of real business impact, with AI increasingly used to drive productivity, innovation, and new economic opportunities.

US$1 Billion Investment to Accelerate Thailand’s AI Future

The AI Tour follows Microsoft’s announcement of a US$1 billion (≈35 billion baht) investment in Thailand’s cloud and AI infrastructure between 2026 and 2028, following a meeting between Microsoft President Brad Smith and Prime Minister Anutin Charnvirakul in March 2026.

The investment will support the development of clean‑energy data centres and efficient water‑management systems, strengthening Thailand’s digital backbone and enabling faster, more secure access to cloud and AI services for both SMEs and large enterprises.

Microsoft says the initiative will help accelerate Thailand’s digital economy and enhance its competitiveness across the region.

Human Capital Development at the Core

Beyond infrastructure, Microsoft plans to train over 150,000 Thai workers in digital and AI skills, a substantial workforce development initiative designed to equip local talent with the technical competencies needed to thrive in an increasingly AI-driven economy. This training effort is expected to span a range of skill levels, from foundational digital literacy to more advanced AI and cloud computing capabilities, ensuring that both entry-level workers and experienced professionals can benefit.

The initiative directly supports the Thai government’s broader ambition to position Thailand as a leading AI hub in ASEAN, a goal that requires not only cutting-edge infrastructure but also a deep and capable domestic talent pool. By investing in human capital alongside physical and technological infrastructure, Microsoft is helping to lay the groundwork for a self-sustaining digital ecosystem that could attract further foreign investment and drive long-term economic growth across the region.

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