Neyveli Lignite Corporation rose 2.06% to Rs 56.85 at 13:08 IST on BSE after net profit declined 3.5% to Rs 278.43 crore on 17.1% growth in net sales to Rs 1559.57 crore in Q1 June 2013 over Q1 June 2012.
The Q1 result was announced on Friday, 9 August 2013. The stock market was closed on that day on account of Ramzan Id.
Meanwhile, the S&P BSE Sensex was up 213.25 points or 1.13% at 19,002.59.
On BSE, 16,000 shares were traded in the counter as against average daily volume of 39,883 shares in the past one quarter.
The stock hit a high of Rs 57 and a low of Rs 55.55 so far during the day. The stock had hit a 52-week high of Rs 90.65 on 8 August 2012. The stock had hit a 52-week low of Rs 49 on 5 August 2013.
The stock had underperformed the market over the past one month till 8 August 2013, declining 3.97% compared with the Sensex's 2.77% fall. The scrip had also underperformed the market in past one quarter, sliding 20.54% as against Sensex's 6.01% fall.
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The mid-cap company has equity capital of Rs 1677.71 crore. Face value per share is Rs 10.
Neyveli Lignite Corporation (NLC) said there was exceptional expenditure of Rs 64.57 crore in Q1 June 2013. This includes Rs 62.09 crore towards income tax reimbursement claim pertaining to the earlier years, disallowed by the appeallate authority (APTEL) in respect of KSEB. Decision with regard to further appeal is under consideration, NLC said.
Tamil Nadu-based NLC's principal activities are exploration of lignite mines and power generation.
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