Neyveli Lignite shares zoom over 10%;mcap rises by Rs 1,083 cr

Shares of Neyveli Lignite Corporation Ltd (NLC) today zoomed over 10 per cent as the company has been alloted coal mines in Odisha to meet fuel requirements for the power projects of its subsidiary firms.
The stock surged 9.77 per cent to settle at Rs 72.45 on BSE. Intra-day, it soared 12.8 per cent to Rs 74.45.
At NSE, shares of the company jumped 10.10 per cent to end at Rs 72.45.
The company's market valuation surged by Rs 1,083 crore to Rs 12,155 crore.
Volume-wise, 5.08 lakh shares of the company changed hands at BSE and over 22 lakh shares were traded at NSE during the day.

"Ministry of Coal... Has conveyed the allotment of Talabira-II & III coal mines in the state of Odisha to NLC by the Competent Authority in order to meet the coal requirements for the power projects of the subsidiary companies viz, NLC Tamilnadu Power Ltd (5 MTPA), Neyveli Uttar Pradesh Power Limited (10 MTPA) and Sirkali Power Project (20 MTPA)," NLC said in a BSE filing.
The development follows allotment of a coal mine in Jharkhand to NLC, which had asked the government to allot more mines to it in view of its expansion plans.