Coal sector PSU, NLC India shares plunges over 3%, enters JV with APDCL, dividend yield stood at 1.25%

NLC India Ltd., a key player in the power generation and distribution sector, experienced a decline of 3.12% on January 10, 2025. The stock underperformed compared to its sector by 2.95%, indicating a challenging trading environment. During the session, the stock reached an intraday low of Rs 237.25, reflecting a drop of 3.28%. 

In terms of moving averages, the stock is currently above its 5-day moving average but below the 20-day, 50-day, 100-day, and 200-day moving averages, suggesting a mixed trend in its short to medium-term performance. Over the past month, NLC India has seen a significant decline of 10.70%, while the Sensex has decreased by 4.92%. Additionally, on a one-day basis, the PSU's performance was recorded at -3.59%, in contrast to a minor decline of 0.16% in the Sensex.

This performance highlights the ongoing challenges faced by the stock in the current market landscape. The market capitalization of the company is Rs 33.28K crore.

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Recently, NLC India Renewables and Assam Power Distribution Company (APDCL) have signed a joint venture agreement to develop 1000 MW of green energy projects in Assam. The JVC will be established with an equity shareholding of 51% by NIRL and 49% by APDCL.

NIRL will bring its expertise in renewable energy project development. APDCL will facilitate land acquisition, regulatory approvals, and power evacuation infrastructure. Power Purchase Agreements (PPAs) will be signed with Assam DISCOMs for the sale of 100% of the generated power for 25 years, as per the press release.

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