CESC gains as its arm inks pact to acquire 100% stake in Deshraj Solar Energy
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CESC is currently trading at Rs. 189.65, up by 2.25 points or 1.20% from its previous closing of Rs. 187.40 on the BSE.
The scrip opened at Rs. 189.80 and has touched a high and low of Rs. 190.70 and Rs. 188.00 respectively. So far 50477 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 212.70 on 26-Sep-2024 and a 52 week low of Rs. 82.45 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 193.75 and Rs. 179.35 respectively. The current market cap of the company is Rs. 25126.19 crore.
The promoters holding in the company stood at 52.11%, while Institutions and Non-Institutions held 36.20% and 11.69% respectively.
CESC’s subsidiary -- Purvah Green Power (PGPPL) has entered into a Share Purchase Agreement for acquisition of 100% share capital (on a fully diluted basis) of Deshraj Solar Energy for expansion of renewable energy business. Post the completion of acquisition of shares, the Deshraj Solar Energy will become a step-down subsidiary of the Company. Deshraj Solar Energy is engaged in the business of development of a solar PV power plant of 300 MW capacity in India and its related activities.
CESC is engaged in power generation and distribution in state of West Bengal. The company is a fully integrated power utility with its operation spanning the entire value chain right from mining coal, generating power and distribution of power.
