Shares of Bhagyanagar India Ltd skyrocketed 16%, hitting an intraday excessive of Rs 88.39 on Tuesday, 25 February, after the corporate introduced receiving a Letter of Award (LoA) from the Maharashtra State Electrical energy Distribution Firm for a complete funding of Rs 245 crore.
In its regulatory submitting, the corporate stated that the scheme allocates a complete capability of 53 megawatts (MW) for Photo voltaic Energy Era (SPG) underneath the Mukhyamantri Saur Krushi Vahini Yojana 2.0.
The mission, set to be developed in Maharashtra, will embrace an operation and upkeep interval of 25 years. The tariff is fastened at Rs 3.09 per kWh, with the federal government offering a subsidy of Rs 105 crore per MW.
This initiative, launched by MSEDCL, goals to implement feeder-level solarisation underneath Element C of the PM-KUSUM Scheme.
Earlier this month, the corporate secured 11 Letters of Award from the Uttar Pradesh New and Renewable Vitality Improvement Company for a photo voltaic mission valued at Rs 230 crore. The 65.7 MW (AC) mission have to be commissioned inside a 12 months of receiving the award and features a 25-year operation and upkeep interval.
Integrated in 1985, Bhagyanagar India is engaged within the manufacture of copper merchandise. The corporate began with the manufacturing of non-ferrous steel merchandise like copper rods and lead sleeves. A copper division was acquired via the takeover of two items, India Extrusion and Gangappa Industries. Bhagyanagar India’s product profile now consists of enamelled and paper-covered copper strips, that are utilized by corporations comparable to Lucas TVS, BHEL, Crompton Greaves, and Sahney Paris.
At 2:26 pm, the shares of Bhagyanagar India have been buying and selling 6.52% increased at Rs 81.15 on NSE.
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