NLC India Extends Gains as Renewable JV Boosts Focus

NLC India Extends Gains as Renewable JV Boosts Focus NLC India rises for a second session after forming a renewable energy JV with PTC India. Stock shows recovery, but the short-term trend remains downward. NLC India

extended its gains for the second consecutive session, closing at ₹268.80, up 2.48% (₹6.50) on September 18. The rise followed the announcement that PTC India, together with NLC India Renewables, has incorporated a joint venture, NIRL PTC Renewables, to explore and develop opportunities in green energy projects. PTC India will hold a 26% stake, while NLC India Renewables will own 74%. NLC India is a Navratna PSU under the Ministry of Coal, with operations spanning lignite and coal mining, power generation and renewable energy. From a technical perspective, the stock is showing recovery from recent lower levels, although its short-term trend remains downward. The stock has declined more than 30% over the past four months, following an inverted-V formation that peaked around April–May before the subsequent decline. The ₹250 level may act as an important support zone. On the higher side, ₹283 is a key level to watch for a potential change in short-term momentum. Disclaimer: Investments in securities are subject to market risk. This is for educational purposes only. Investors must verify information before investing and consider their financial position & risk profile.