NLC India Ltd incorporates new wholly-owned subsidiary NLC India Green Energy Limited

NLC India Limited, a Navratna Central Public Sector Undertaking headquartered at Neyveli, Tamilnadu, incorporated a new wholly-owned Subsidiary "NLC India Green Energy Limited" (NIGEL).

Currently, projects to the tune of 2 GW of Renewable Energy are under implementation and will be taken up by NIGEL, including 600 MW solar power project in Gujarat and 810 MW Solar Photovoltaic Power Project in Rajasthan. Already, NLCIL has incorporated a wholly-owned subsidiary NLC India Renewables Limited for Asset monetisation.

On the occasion, Shri. Prasanna Kumar Motupalli, Chairman and Managing Director, NLCIL said, 'The newly-incorporated company will take care of planning, participating in upcoming RE tenders, tendering, execution and commissioning of Renewable projects."

"The subsidiary is expected to achieve 5 GW capacity by 2030 and contribute for carbon emission reduction, " he also added.

The Company's registered office is situated at Chennai and it will commence its business operations in due course.

Shares of NLC India Limited was last trading in BSE at Rs. 135.65 as compared to the previous close of Rs. 138.10. The total number of shares traded during the day was 61254 in over 974 trades.

The stock hit an intraday high of Rs. 138.75 and intraday low of 135.00. The net turnover during the day was Rs. 8374292.00.

Source : Equity Bulls

Keywords

NLCIndia INE589A01014 Subsidiary NLCIndiaGreenEnergy