NLC India Stock Rises by 2% After Securing 250 MW BESS Order from TNGECL
By HDFC SKY | Updated at: Jun 23, 2025 02:36 PM IST
Chennai, June 23, 2025: NLC India Limited (NSE: NLCINDIA, BSE: 513683) stock rose by more than 2% during the early trading hours on Monday after the company announced a major strategic milestone as its wholly owned subsidiary, NLC India Renewables Limited. The subsidiary secured a Letter of Award (LoA) from Tamil Nadu Green Energy Corporation Limited (TNGECL) for the development of large-scale Battery Energy Storage System (BESS) projects aggregating to 250 MW/500 MWh.
This announcement enhanced long-term revenue stability and market credibility for the company. Coupled with strong Q4 earnings, it reinforced financial robustness to support capex in renewables.
The stock traded at ₹228.10 (2.01% more than the previous close) around 11:45 AM on Monday. The scrip touched an intraday high of ₹229.70 before paring gains.
Project Details and Strategic Significance
The LoA pertains to three standalone BESS projects, each capable of two full charging/discharging cycles per day, designed for on-demand power usage. The projects, collectively totalling 250 MW/500 MWh, will be deployed at the following substations in Tamil Nadu:
- 400/230/110 kV Ottapidaram SS
- 400/230/110 kV Anuppankulam SS
- 400/230/110 kV Kayathar SS
The projects will follow a Build-Own-Operate (BOO) model and benefit from Viability Gap Funding (VGF) under the state component. The award was secured through a competitive bidding, marking the NLCIL Group’s entry into large-scale battery storage infrastructure.
“This is the first large-scale BESS project to be undertaken by the NLCIL Group and represents a major milestone,” the company said in its regulatory filing.
Market Snapshot
| Metric | Value |
|---|---|
| Last Traded Price (NSE) | ₹226.55 |
| Change (%) | +1.76% |
| Day High / Low | ₹229.70 / ₹224.10 |
| VWAP | ₹226.37 |
| Traded Volume (Shares) | 5.37 lakh |
| Traded Value | ₹12.15 crore |
| Market Cap | ₹31,199.32 crore |
| Free Float Market Cap | ₹7,305.16 crore |
| Adjusted P/E | 11.38 |
About the Company
NLC India Limited is a Navratna Government of India enterprise under the Ministry of Coal. Incorporated in 1956, the company primarily works in lignite mining and power generation. It is listed on NSE and BSE and forms part of the Nifty Energy index. Over the years, NLC has been actively diversifying into renewable energy, including solar and wind. With this BESS project, the company prays into utility-scale energy storage, aligning with India’s decarbonisation goals.
REF: https://nsearchives.nseindia.com/corporate/NLCINDIA_22062025125829_LoAtoNIRL250MWBSESTNGECL22062025.pdf
Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.
If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.
Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations
