As Bloomberg report, quoting an interview with Chairman M Prasanna Kumar, suggested that the the state-run coal miner and power producer would put nearly 1.4 gigawatts of mostly solar plants on the block and the transaction is likely by the end of this fiscal year.
Shares of NLC India rose 12% as the government s offer for sale opened on NSE for retail investors today. The government plans to sell 5% stake at a floor price of Rs 212 per share. Apart from this, NLC India recently signed an MOU with the Rajasthan Government for a joint venture to set up power plants.
NLC India OFS: Retail investors and non-retail investors (who chose to carry forward their un-allotted bids) can bid in the NLC India OFS today. Data showed retail portion was subscribed 0.61 per cent at last count.
BHEL shares climbed 5.78 per cent to hit a high of Rs 204.65 on BSE. At 9.25 am, shares of NLC India were up 1.56 per cent at R 257.30. Shares of Larsen & Toubro Ltd (L&T) were flat at Rs 3,525.05.
In terms of technicals, the stock s day RSI (14) is at 45.4. The RSI below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed. MACD is at 1.7, above its Center Line, but below the signal line.