Neyveli Lignite is trading higher by 3% at Rs 86 on the Bombay Stock Exchange on the back of news reports that it is planning to invest Rs 40,200 crore to build power plants.
The company has plans to install 7,500 MW of power generation capacity, including a 4,000-MW plant in Tamil Nadu and a 2000-MW plant in Uttar Pradesh. In Uttar Pradesh, the company plans to invest Rs 10,000 crore to set up the 2,000-MW coal-based thermal power plant in Ghatampur tehsil of Kanpur Nagar district.
Neyveli Lignite also plans to set up a thermal power project (2x500 MW) at Neyveli in Tamil Nadu. The project will replace the companys's 600-MW TPS-I. The estimated cost of the project is Rs 5,907 crore.
The stock opened at Rs 84 and touched a high of Rs 87 in intra-day deals. As many as 11,000 shares have changed hands compared to the two-week average of 21,000 shares.
