 "Neyveli Lignite rebounds on coal mines allotment in Odisha")
Shares of Neyveli Lignite Corporation (NLC) has moved higher by 13% to Rs 74.45 on the BSE, bouncing back 16% from intra-day low, after the company announced that the government has allotted coal mines in the State of Odisha.
The stock hit a 52-week low of Rs 64.30 on the BSE in early morning trade. Till 02:55 PM, a combined 1.9 million shares changed hands against an average sub 50,000 shares that were traded daily in past two weeks on the BSE and NSE.
“Ministry of Coal, vide O.M.F.No.13016/9/2015-CA-3 (Pt.) dt. February 08, 2016 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 Limited (5 MTPA), Neyveli Uttar Pradesh Power Limited (10MTPA) and Sirkali Power Project (20MTPA),” NLC said in a statement.
The stock hit a 52-week low of Rs 64.30 on the BSE in early morning trade. Till 02:55 PM, a combined 1.9 million shares changed hands against an average sub 50,000 shares that were traded daily in past two weeks on the BSE and NSE.
“Ministry of Coal, vide O.M.F.No.13016/9/2015-CA-3 (Pt.) dt. February 08, 2016 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 Limited (5 MTPA), Neyveli Uttar Pradesh Power Limited (10MTPA) and Sirkali Power Project (20MTPA),” NLC said in a statement.
