Powered by: Motilal Oswal
16-01-2024 02:54 PM | Source: Accord Fintech
Ashnisha Industries surges on inking MoU with Gujarat government to set up RE projects

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

Ashnisha Industries is currently trading at Rs. 11.16, up by 0.32 points or 2.95% from its previous closing of Rs. 10.84 on the BSE.

The scrip opened at Rs. 10.85 and has touched a high and low of Rs. 11.24 and Rs. 10.74 respectively. So far 2019036 shares were traded on the counter.

The BSE group 'X' stock of face value Rs. 1 has touched a 52 week high of Rs. 25.72 on 06-Jun-2023 and a 52 week low of Rs. 10.50 on 09-Jan-2024.

Last one week high and low of the scrip stood at Rs. 12.47 and Rs. 10.64 respectively. The current market cap of the company is Rs. 112.11 crore.

The promoters holding in the company stood at 26.57%, while Non-Institutions held 73.43% stake in the company.

Ashnisha Industries has signed an initial pact with the Gujarat government to set up renewable energy (RE) projects in the state at Rs 60 crore investment. The company signed the memorandum of understanding (MoU) with the Commissioner of Municipalities Administration during the Vibrant Gujarat Global Summit 2024 in Gandhinagar.

As part of the MoU, the state government will support the company in obtaining the necessary permissions, registrations, approvals and clearances from departments concerned.

Ashnisha Industries is into the business of manufacturing and supplying of steel and steel alloys.