Choice International rises as its arm secures solar plant project in partnership with Solar91 Cleantech
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Choice International is currently trading at Rs. 291.20, up by 1.25 points or 0.43% from its previous closing of Rs. 289.95 on the BSE.
The scrip opened at Rs. 295.35 and has touched a high and low of Rs. 296.15 and Rs. 291.00 respectively. So far 32163 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 301.90 on 20-Feb-2024 and a 52 week low of Rs. 137.48 on 05-Apr-2023.
Last one week high and low of the scrip stood at Rs. 296.55 and Rs. 263.00 respectively. The current market cap of the company is Rs. 5812.89 crore.
The promoters holding in the company stood at 57.98%, while Institutions and Non-Institutions held 13.63% and 28.40% respectively.
Choice International’s subsidiary -- Choice Consultancy Services (Choice) has secured a project for the development of a solar plant for Jodhpur Vidyut Vitran in a Joint Venture partnership with Solar91 Cleantech. In this project, Choice & Solar91 Cleantech together will act as key advisor, undertaking comprehensive tasks including detailed site surveys, supervision of the design, supply, and installation of the solar power plant. Furthermore, they will oversee the installation of associated 33kV or 11kV lines, conduct testing and commissioning activities, and manage the construction of control rooms. The project is expected to entail a capex outflow of Rs 152 crore.
This project emphasizes Jodhpur Discom's commitment to sustainable energy and rural electrification, marking a significant step towards a greener future for the region. Aligned with the PM-Kusum Yojana - Component C 2, aimed at providing affordable electricity to farmers, the initiative entails setting up a34.72 MW (AC) solar plant during an implementation period of 12 months, with a 25-year operation and maintenance period.
Choice Group, through strategic efforts, intends to ensure efficient execution; delivering significant benefits to the communities served. The estimated revenue of the project is Rs 520 crore during the overall project tenure.
Choice International offers services in area of project financing, assisting in raising funds by equity or debt routes, debt structuring, private equity, acquisitions, long term strategic planning, turnaround and structuring and joint ventures, divestitures and takeovers
