Shares of government-owned mining company NLC India Ltd rose as much as 3% on 28 May after the business revealed that it had been designated the preferred bidder for a phosphorite and limestone block in Chhattisgarh.
A preferred bidder is the one who is most likely to earn a reciprocal preference under the contract’s terms.
According to an exchange filing, NLC India Ltd. has been declared the preferred bidder for Semhardih Phosphorite and Limestone Block and Raipura Phosphorite and Limestone Block in Balod, Chhattisgarh, following the Ministry of Mines’ critical and strategic mineral blocks e-auction held between 15 and 16 May 2025.
Earlier this month, the business signed a power purchase agreement for an 810-megawatt solar project in Rajasthan. As part of the agreement, the Tamil Nadu-based company inked a Power Purchase Agreement (PPA) with Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RVUNL) for a solar power plant.
NLC has also inked a Memorandum of Understanding (MoU) with IREL (India) Ltd.
In the March quarter, NLC India’s net profit increased by 323% year on year to Rs 482 crore, from Rs 114 crore the previous year. At the same time, revenue grew by 8.3% year on year to Rs 3,836 crore.
At 1:37 pm, the shares of NLC India were trading 1.31% higher at Rs 241.56 on NSE.
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