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NLC India Share Surge On Emerging Successful Bidder For Patrapara Mine

Updated on: Dec 9, 2024, 2:19 PM IST
NLC India Limited has secured the New Patrapara South Coal Mine in Odisha, marking its third commercial coal mine acquisition.
NLC India Share Surge On Emerging Successful Bidder For Patrapara Mine
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NLC India Limited (NLCIL), a key player in India’s energy and mining sector, has taken another major step in its expansion strategy. The company has been officially declared the successful bidder for the New Patrapara South Coal Mine located in Odisha. This acquisition strengthens NLCIL’s position in the coal mining industry, contributing significantly to its ongoing efforts to enhance energy production capacity.

Successful Bid for New Patrapara South Coal Mine

Following its previous intimation on November 22, 2024, NLC India Limited has been confirmed as the successful bidder by the Nominated Authority, Ministry of Coal (MoC), for the New Patrapara South Coal Mine. This successful bid was followed by the signing of the Coal Mine Development and Production Agreement (CMDPA) between NLCIL and the Ministry of Coal on December 5, 2024.

This new mine, located in Odisha, marks NLCIL’s third commercial coal mine, adding to the company’s growing portfolio of mining assets. The acquisition is in line with NLCIL’s long-term goal to expand its production capacity and continue its contributions to the nation’s energy needs.

NLC India Limited’s Commitment to Capacity Addition

The acquisition of the New Patrapara South Coal Mine reflects NLCIL’s ongoing commitment to increasing its coal production capabilities. This is the third such acquisition by the company, reinforcing its focus on expanding its presence in the coal mining sector. By increasing its capacity, NLCIL aims to meet the rising energy demand in India, ensuring a stable supply of coal for power generation.

NLC India Share Performance

As of December 09, 2:08 PM, shares of NLC India Ltd. are trading at ₹268.80 per share with a surge of 0.94% from its previous day’s closing price, over the last month, the stock has seen a surge of 4.05%.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Published on: Dec 9, 2024, 2:19 PM IST

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