A PSU sets dividend record date; shares extend gains

NLC India share price, NLC India dividend record date: Ahead of its upcoming annual general meeting, Navratna public sector company NLC India has set September 19 as the record date for a final dividend for the financial year ended March 2023. The PSU is scheduled to conduct its 67th annual general meeting (AGM) on September 26. The date will also determine the members of the company for the purpose of the AGM, slated to be conducted through video conferencing at 11 am on September 26.

NLC India shares finished higher by Re 1.5, or 1.1 per cent, at Rs 144.2 apiece on BSE, extending gains to more than 12 per cent in four back-to-back trading sessions. The company also said the register of members and its share transfer books will remain closed from September 20 to September 26 (both days inclusive).

Here’s how NLC India shares have fared in the recent past:

NLC India shares have rewarded investors with multi-bagger returns over the past few months. As of September 5, the PSU stock has risen more than 85 per cent in the last year, rising from  Rs 75-odd levels to around Rs 145, sharply outperforming an 11 per cent rise in the headline Nifty index. NLC India shares have grown nearly 175 per cent in value in two years and more than 90 per cent in five years.

NLC India Q1 financial performance

For the quarter ended June 30, 2023, the company posted a 28 percent fall in net profit at Rs 404.7 crore year-on-year (YoY). The company registered a net profit of Rs 561.8 crore, in a year ago period, the company said in a regulatory filing. In the quarter, NLC India's total revenue stood at Rs 3,316.5 crore, a 14.1 per cent fall against Rs 3,862.9 crore in the corresponding period of the preceding fiscal.

What does NLC India do?

NLC India is a Navratna company, under the coal ministry, operating mainly in mining and power generation. Incorporated in 1956, NLC India enjoys the lion share in the country’s lignite production, with a significant pie in thermal and renewable energy generation.

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