Nagarjuna Construction Company Ltd (NCC) has informed the Bombay Stock Exchange (BSE) that it has acquired, through its subsidiary NCC Power Projects Ltd (NCC PPL), 55% equity stake of Nelcast Energy Corporation Ltd (NECL).
NECL is developing a 1320 MW Thermal Power Project at KrishnaPatnam in Nellore district of Andhra Pradesh.
NECL has acquired the requisite project land and has also secured all the requisite approvals from the concerned authorities in relation to the project.
The financial details were not disclosed.
The shares of NCC were up 2.53 per cent at 115 and Nelcast Ltd was 11 per cent up at 130.65 on the BSE at day's close.
