Meanwhile, the S&P BSE Sensex was down 275.66 points, or 1.38%, to 19,758.82.
On BSE, 43,000 shares were traded in the counter as against an average daily volume of 33,279 shares in the past one quarter.
The stock hit a high of Rs 62.95 and a low of Rs 60 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 52.20 on 25 June 2013.
The stock had underperformed the market over the past one month till 15 July 2013, rising 1.70% compared with the Sensex's 4.47% rise. The scrip had underperformed the market in past one quarter, sliding 11.66% as against Sensex's 9.13% rise.
The large-cap company has an equity capital of Rs 1677.71 crore. Face value per share is Rs 10.
Tamil Nadu Chief Minister J. Jayalalithaa on Monday, 15 July 2013, said that the centre and the Securities and Exchange Board of India (Sebi) have agreed to her proposal of state public sector undertakings (PSU) acquiring central government's 3.56% stake in the Neyveli Lignite Corporation (NLC).
She said the transaction would cost the five state PSUs around Rs 500 crore.
The central government had decided to sell 5% stake in Neyveli Lignite Corporation (NLC) to meet the minimum public holding norm. Sebi has set a deadline of August 2013 for all listed central public sector units to have a minimum 10% public shareholding. The Government of India (GoI) holds 93.56% stake in NLC (as on 31 March 2013).
However, political parties in Tamil Nadu opposed the central government's decision to divest the stake in NLC. Around 27,000 NLC workers went on strike since 3 July 2013 protesting the decision.
Later, Jayalalithaa suggested to the Prime Minister that the centre can dilute its stake in favour of Tamil Nadu PSUs. She also said the dilution can be 3.56% as already 6.44% is with the public.
NLC's net profit rose 1.6% to Rs 614.79 crore on 9.5% growth in net sales to Rs 1653.35 crore in Q4 March 2013 over Q4 March 2012.
Tamil Nadu-based NLC's principal activities are exploration of lignite mines and power generation.
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