AgenciesShares of state-owned rose over 4% to Rs 86.9 in Friday’s intraday trade after the company signed an Memorandum of Understanding (MoU) with Grid Corporation of Odisha (GRIDCO).
NLC India and GRIDCO have signed MoU for setting up of ground-mounted/floating solar power projects, pumped hydro storage projects, green hydrogen projects and many other renewable projects.
“This MoU will enable both the parties towards national targets for renewable energy capacity and energy transition goals,” the company said in a BSE filing.
At 11.37 am, the scrip was trading 3.9% higher at Rs 86.65 over its previous day’s closing price of Rs 83.40 apiece. Year-to-date, the stock has also risen 38%.
In Q2FY23, NLC India reported a 111.6% increase in its consolidated profit at Rs 417.03 crore. The company posted a consolidated profit of Rs 197.02 crore in the year-ago period.
NLC India and GRIDCO have signed MoU for setting up of ground-mounted/floating solar power projects, pumped hydro storage projects, green hydrogen projects and many other renewable projects.
“This MoU will enable both the parties towards national targets for renewable energy capacity and energy transition goals,” the company said in a BSE filing.
At 11.37 am, the scrip was trading 3.9% higher at Rs 86.65 over its previous day’s closing price of Rs 83.40 apiece. Year-to-date, the stock has also risen 38%.
In Q2FY23, NLC India reported a 111.6% increase in its consolidated profit at Rs 417.03 crore. The company posted a consolidated profit of Rs 197.02 crore in the year-ago period.
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