Throughout Tuesday’s buying and selling session, the shares of an organization engaged in manufacturing copper merchandise surged 4.7 p.c on BSE, after the corporate introduced buying a 51 p.c stake in an organization manufacturing photo voltaic energy-related merchandise.
Value Motion
With a market cap of Rs. 237.8 crores, the shares of Bhagyanagar India Restricted reached an intraday excessive at Rs. 80.1, up by round 4.7 p.c, as in comparison with its earlier closing value of Rs. 76.51.The inventory has delivered unfavourable returns of practically 14 p.c over a one-year interval, in addition to round 7 p.c returns within the final one month.
What’s the information
In response to the most recent regulatory filings, Bhagyanagar India Restricted has acquired a 51 p.c stake in Surana Electrix Personal Restricted, making it a subsidiary of the corporate.The acquisition goals to increase into manufacturing elements and equipment for motor automobiles and their engines, in addition to buying and selling, distributing, supplying, producing, transmitting, and manufacturing photo voltaic energy-related merchandise.The transaction was accomplished for a money consideration of Rs. 5.1 lakh, involving the acquisition of 51,000 fairness shares at a face worth of Rs. 10 per share.
Additionally learn: Cement shares crashes after Tamil Nadu Govt imposes ₹160 per tonne royalty on limestone
Earlier Information
sixth February: Bhagyanagar India secured a Letter of Award (LoA) for a 65.7 MW of Photo voltaic Energy Generator (SPG) beneath the RESCO Mode for establishing grid-connected Photo voltaic Energy Vegetation from Uttar Pradesh New and Renewable Power Growth Company (a Authorities of Uttar Pradesh enterprise). The challenge, a part of feeder-level solarization beneath PM KUSUM Part C2, entails a complete funding of Rs. 230 crore.twenty fifth February: The corporate secured an LoA for a 53 MW SPG capability beneath the Mukhyamantri Saur Krushi Vahini Yojana 2.0, aimed toward feeder-level solarization beneath PM-KUSUM Part C. Awarded by the Maharashtra State Electrical energy Distribution Firm Restricted (MSEDCL) (a Authorities of Maharashtra enterprise), this challenge entails an funding of Rs. 245 crore.
Financials
Bhagyanagar India reported a big development in income from operations, experiencing a year-on-year improve of practically 18 p.c, rising from Rs. 334.6 crores in Q3 FY24 to Rs. 394.5 crores in Q3 FY25.Equally, throughout the identical interval, the corporate’s web revenue elevated from Rs. 2.7 crores to Rs. 4 crores, indicating an increase of round 48.2 p.c YoY.
In regards to the firm
Based in 1985, Bhagyanagar India Restricted makes a speciality of manufacturing copper merchandise and serves primarily Unique Tools Producers (OEMs). Its product portfolio consists of copper rods, strips, pipes, busbars, and sheets, amongst others.Over time, the corporate has diversified into telecom merchandise, photo voltaic merchandise, and actual property. It additionally ventured into the renewable vitality sector with a 9 MW wind energy challenge at Kapatigudda, Karnataka.
Written by Shivani Singh
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