NLC India shares trade lower after firm signs renewable energy projects MoU with Indian Oil

NLC India's share price was trading lower on Wednesday, June 24, 2026, after the PSU power generation firm signed a memorandum of understanding (MoU) with Indian Oil Corporation Ltd to develop renewable energy projects, as per the exchange filing.

Investors were likely focused on the company’s ambitious renewable energy plans with Indian Oil, while these MoUs generally take a longer implementation time with minor near-term benefits.

As of 10:33 am, shares of NLC India were down 0.49% at ₹326.30 on Wednesday’s market, compared to ₹327.15 at the previous market close, according to NSE data.

Renewable energy ambitions

As per the MoU, NLC India, in collaboration with Indian Oil, will develop large-scale renewable energy projects for solar, wind, and hybrid power generation with or without energy storage systems like Battery Storage and Pumped Storage Projects for third-party supply.

The renewable energy projects will be set up in the State of Tamil Nadu and will cater to the energy needs for commercial and industrial consumers, and application usage for the production of green synthetic fuels or chemicals, among other things.

“Partnership with IOCL marks a significant milestone in NLCIL's strategic diversification into clean and sustainable energy sectors and emphasis on development of Renewable Energy Projects using various technologies for Solar, Wind, Hybrid, Battery Energy Storage System/Pumped Hydro Storage, Green Hydrogen and any new potential RE Technology emerging in future,” said Prasanna Kumar Motupalli, Chairman & Managing Director, NLC India.

NLC India share performance

NLC India shares closed 0.14% lower at ₹327.15 after Tuesday’s stock market session, compared with ₹327.60 at the previous market close, according to NSE data. The company announced its MoU update after the market hours on June 23.

The exchange data also showed that NLC India shares have delivered more than 436% returns to investors in the last five years, 235% gains in the last three years, and over 43% returns in the last one year period.

Investors should also be aware that so far in the calendar year 2026, the company’s stock has gained 27%, but it has lost 5% in the past one month. The shares were trading 5% higher over the last five market sessions on NSE.

With a 52-week high at ₹387.80 on May 14, 2026, and a 52-week low of ₹220.71 on July 8, 2025, the company’s market capitalisation (m-cap) was at ₹45,322 crore as of the stock market close on Tuesday.