BUZZ — NLC India gains after unit forms joint venture with PTC India

* Shares of NLC India rise 2% to 267.60 rupees, while shares of PTC India fall 1.1% to 154.16 rupees * State-owned mining and power enterprise NLC India says unit NLC India Renewables formed joint venture with power trading solutions co PTC India * NLC India adds joint venture, which will set up green energy projects, is owned 74% by its unit, which is in the process of filing for an IPO, and 26% by PTC India * The divergence in share reaction in NLC India and PTC India is because the JV is seen as a strategic expansion and new addition to NLC India's clean energy portfolio while the latter is viewed as a minor passive stakeholder without major upside, said two traders * NLC India stock up 7% YTD; PTC India stock down 4.5% YTD (Reporting by Payel Das in Bengaluru) ((Payel.das@thomsonreuters.com)