Concord Biotech surges on inking pact to acquire 27.38% stake in M/s FSGE Renewable Power
Concord Biotech is currently trading at Rs. 1340.60, up by 24.05 points or 1.83% from its previous closing of Rs. 1316.55 on the BSE.
The scrip opened at Rs. 1316.55 and has touched a high and low of Rs. 1377.95 and Rs. 1316.50 respectively. So far 22084 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2024.10 on 20-Jun-2025 and a 52 week low of Rs. 987.05 on 02-Apr-2026.
Last one week high and low of the scrip stood at Rs. 1408.15 and Rs. 1306.00 respectively. The current market cap of the company is Rs. 13978.82 crore.
The promoters holding in the company stood at 44.08%, while Institutions and Non-Institutions held 17.02% and 38.90% respectively.
Concord Biotech has entered into an agreement to acquire 27.38% stake in M/s FSGE Renewable Power (FSGE) for a consideration of Rs 6.3 crore. The investment is for installation of Wind Solar Hybrid Power Project having a Wind Capacity of around 6.3 MW AC & Solar Capacity of around 6.3 MWp DC in Gujarat for Limbasi Facility of the company. The investment aligns with the company’s commitment to sustainability and its focused efforts to address environmental challenges. FSGE is a Special Purpose Vehicle incorporated for the purpose of developing a captive power generation facility for the company and it has not commenced its operations.
By transitioning to renewable energy sources, the company will reduce its carbon footprint, contributing to global efforts to combat climate change. Additionally, renewable energy offers long-term financial benefits, including reduction in energy costs. This strategic investment reinforces the company’s commitment to environmental responsibility and supporting sustainable growth while enhancing operational efficiency.
