NLC India shares are set to be in focus of stock market investors 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. According to exchange filings, NLC India shares closed 0.26% lower at ₹326.15 on the BSE after Tuesday's stock market session, compared with ₹327.60 at the previous market close. The company announced its MoU update after the market hours on June 23, 2026. 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. 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 was at ₹45,322 crore as of the stock market close on Tuesday.
NLC India Limited has signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL) for the formation of a Joint Venture (JV) focused on renewable energy development. According to reports from Business Standard, the MoU was executed on 22 June 2026 at New Delhi for establishing renewable energy power projects in Tamil Nadu state. The partnership aims to develop large-scale renewable energy projects including solar, wind, hybrid power with or without energy storage systems, supporting the nation's vision of 'Viksit Bharat' and achieving Net Zero Carbon emissions.
The JV will develop renewable energy projects for multiple applications including supply to third-party consumers, commercial and industrial (C&I) consumers, distribution companies (Discoms), energy exchanges, e-mobility applications, and green synthetic fuels/chemicals production. As reported by Business Standard, the projects will be set up across Tamil Nadu state and are expected to cater to the energy requirements of commercial and industrial consumers, as well as support applications related to the production of green synthetic fuels and chemicals. The scope encompasses the development of projects with or without energy storage, such as Battery Storage and Pumped Storage Projects. The renewable power generated will be supplied to third parties, C&I consumers, Discoms, and energy exchanges, with additional applications catering to e-mobility and green synthetic fuels/chemicals production.
The MoU was signed by Shri Anurag Mittal, Chief General Manager (Commercial and Business Development) at NLC India Limited, and Shri Manoj Nanda, Chief General Manager (Alternate Energy) at IOCL. The signing ceremony was attended by senior officials including Dr. Prasanna Kumar Acharya, Director (Finance) at NLCIL, and Shri Suman Kumar, Director (P&BD) at IOCL. According to Business Standard, Shri Prasanna Kumar Motupalli, Chairman & Managing Director of NLC India Limited, highlighted that the partnership with IOCL marks a significant milestone in the company's strategic diversification, emphasizing the development of renewable energy projects using various technologies, including solar, wind, hybrid, battery energy storage systems/pumped hydro storage, green hydrogen, and any new potential RE technology emerging in the future. The partnership with IOCL marks a significant milestone in the Navratna PSU's strategic diversification into clean and sustainable energy sectors.
NLCIL has been actively expanding its portfolio beyond conventional power generation into large-scale renewable and green energy initiatives. The company's renewable energy focus includes solar, wind, pumped hydro storage, Battery Energy Storage Systems (BESS), green hydrogen, low-carbon round-the-clock power and waste-to-energy projects. This strategic diversification strengthens the company's conventional power portfolio while positioning it in the growing renewable energy market. The partnership will explore opportunities across the complete value chain for solar module manufacturing and other renewable energy sectors in Tamil Nadu, with the specific projects to be undertaken based on techno-commercial feasibility and mutual agreement between the two entities. The strategic collaboration marks a major milestone in strengthening India's clean energy ecosystem and reflects the shared commitment of both organisations towards sustainable development, technological advancement and nation-building through reliable and green energy solutions.
