Shares of NLC India rose nearly 4% in Tuesday’s session after the company announced signing a Memorandum of Understanding (MoU) with Nuclear Power Corporation of India Limited (NPCIL) for the development of nuclear power projects through a joint venture company.
The stock climbed as much as 3.96% to Rs 355.80 on the NSE after the announcement.
According to the company’s exchange filing, NLC India and NPCIL will jointly develop 700 MW Indigenous Pressurised Heavy Water Reactor (PHWR)-based nuclear power projects and explore investment opportunities in NPCIL’s existing and upcoming nuclear projects.
The MoU was signed on May 25, 2026, in the presence of senior officials from both companies, including NLC India CMD Prasanna Kumar Motupalli and NPCIL CMD Bhuwan Chandra Pathak.
The collaboration comes as India targets achieving 100 GW nuclear power capacity by 2047 as part of its long-term clean energy and net-zero strategy. The filing also highlighted that the initiative gained significance after the enactment of the SHANTI Bill in December 2025, aimed at modernising India’s nuclear energy framework.
NLC India stated that the partnership marks a strategic diversification into clean and sustainable energy sectors, combining NLCIL’s power sector experience with NPCIL’s expertise in nuclear energy.
The company has been expanding beyond conventional power into renewable energy initiatives including solar, wind, pumped hydro storage, battery energy storage systems (BESS), green hydrogen, and waste-to-energy projects.
At 9:37 AM on Tuesday, NLC India shares were trading at Rs 355.40, up 3.96% on the NSE.
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