The major order from NLC India is for 24,300 meters of steel cord conveyor belts, valued at Rs 47.81 crore. The order is to be completed within 7 to 8 months from the date of acceptance of the purchase order.
An additional order from Maharashtra State Power Generation is for 3,750 meters of belts, worth Rs 0.84 crore. This order is to be executed within 3 to 6 months from the date of acceptance of the purchase order.
Somi Conveyor Beltings is in the business of manufacturing rubber- and steel-based industrial conveyor belts.
NLC India is engaged in the business of mining lignite and generating power by using lignite as well as renewable energy sources.
Shares of Somi Conveyor Beltings declined 1.65% to Rs 187.92, while shares of NLC India shed 0.15% to Rs 245.67 on the BSE.