/ NLC India Seeks To Increase Borrowing Powers Of Board Of Directors Up To Rs 35,000 Crore ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 31 May 2017

NLC India on Tuesday informed that it plans to increase the borrowing powers of board of directors of the company upto Rs 35,000 crore and creation of security on the assets of the company up to that value.

The board of directors has also given approval for the proposal to seek approval of shareholders through postal ballot, as per BSE filing.

The company on Tuesday reported a standalone net profit of Rs 1501.47 crore for the quarter ended March 31, 2017, as against Rs 397.37 crore in the same quarter of the previous year.

Meanwhile, NLC India is up by 7.4% at Rs 106.75 per share at 11:29 hours IST on BSE. It hit a high of Rs 108.95 and a low of Rs 104.75 so far during the day. NLC India Limited is engaged in the power business. Its segments are lignite mining and power generation.

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