The Indian government has signed agreements with six companies, including Hindalco Industries and NLC India, for coal blocks obtained in the seventh round of coal mines auction. The auction included 106 mines, and the successful bidders include Hindalco Industries, NTPC Mining, NLC India, Shri Bajrang Power & Ispat, and Nilkanth Mining.

In terms of technicals, the stock's day RSI (14) is at 45.4. The RSI below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed. MACD is at 1.7, above its Center Line, but below the signal line.

The company has also signed a power-purchase agreement with GRIDCO, an Odisha state power undertaking, to purchase 400 megawatt power that will be generated through the proposed plants

On September 27, Wednesday, StockEdge reported a decline in the Relative Strength Index (RSI) for several stocks. ETMarkets identifies 10 stocks to watch as their RSI trends down and explains why RSI is a valuable indicator for investors.

On September 25, Monday, StockEdge identified 28 stocks with a rising Relative Strength Index (RSI). ETMarkets has chosen 10 stocks from this group to explore the importance of RSI and its role in assessing stock movements.

Inox Green Energy Services' subsidiary, I-Fox Windtechnik, has secured an order from NLC India to maintain and operate a 51 MW Tamil Nadu-based wind energy project for five years. Comprehensive O&M, including the power evacuation system, is included in the scope of the agreement, with a revenue of Rs 40 crores expected during the term of the contract.

State-owned NLC India (NLCIL) has inked a pact to supply 300 MW of solar power for 25 years to Rajasthan Urja Vikas Nigam under the CPSU scheme. NLCIL is presently having 1,421 MW of Renewable Energy Capacity. As per its corporate plan, it contemplates establishing 6,031 MW capacity by 2030, a statement said.

The pact is for the supply of 300 MW solar power to the state of Rajasthan for the next 25 years, under the CPSU scheme.

Given the country’s growing shift to renewable energy, the coal ministry has decided to foray into thermal power plants, and not just mine coal.

Stocks that were in focus include names like NLC India which rose more than 6%, Ircon International gained nearly 7% and Dr Reddys Laboratories closed with gains of over 3% to hit a fresh 52-week high on Wednesday.

State-owned NLC India and NTPC, along with three private players, have secured coal blocks in the seventh round of auctions in India. The sale of all six mines, which included two fully explored and partially explored ones, was concluded with the auction. While NLC bagged North Dhadu (Western Part) coal block in Jharkhand with 434 million tonnes of coal reserves, NTPC won the North Dhadu (Eastern Part) coal block, which has 439 million tonnes (MT) of coal reserves.

Coal PSUs have planned to scale up their total installed renewable energy capacity to 7,231 megawatt (MW) by 2027, an official statement said on Thursday. About 1,600 MW of renewable capacity has already been created till March 2023, by the PSUs Coal India Ltd (CIL), NLC India Ltd (NLCIL), and Singareni Collieries Company Limited (SCCL).

Tamil Nadu-based NLC, under the ministry, operates three opencast lignite mines with a total installed capacity of 30 million tonnes per annum (MTPA) at Neyveli, another opencast lignite mine at Barsingsar in Rajasthan with an installed capacity of 2.1 MTPA and an opencast coal mine at Talabira in Odisha with an installed capacity of 20 MTPA.

NLC India on Friday reported a 14.1 percent year-on-year (YoY) decline in revenue from operations for Q1FY24 at Rs 3,316.5 crore as compared to Rs 3,862.9 crore in Q1FY23.

On July 26, Wednesday, StockEdge reported 23 stocks trading in the overbought zone but exhibiting a bearish or declining RSI trend. ETMarkets has handpicked 10 of these stocks, providing potential investors with valuable insights on interpreting RSI data for informed decision-making.

#NLCINDIA Investment Opportunity:- ⏳ Weekly- ✅Huge rounding Bottom Breakout. ✅Retest with low volumes✅RSI turning BullishShort term Target -

The company has also sorted out most of the land acquisition issues for expansion of its lignite mine in Tamil Nadu's Cuddalore district, says Prasanna Kumar Motupalli. A section of the locals have been protesting against the project and in May, NLCIL had to shut five units of thermal power plant due to lignite shortage.

He has vast experience of about 25 years in planning, design and execution of various railway projects as well as maintenance and operation of major infrastructure and an expert in matters related to establishment, budget, tenders and contract management etc.