Indian Metals surges on signing power purchase agreement with M/s EG Urja Strot
Indian Metals & Ferro Alloys is currently trading at Rs. 1524.00, up by 28.25 points or 1.89% from its previous closing of Rs. 1495.75 on the BSE.
The scrip opened at Rs. 1525.55 and has touched a high and low of Rs. 1535.40 and Rs. 1507.90 respectively. So far 2328 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1674.90 on 29-Apr-2026 and a 52 week low of Rs. 615.00 on 30-May-2025.
Last one week high and low of the scrip stood at Rs. 1,674.90 and Rs. 1,383.00 respectively. The current market cap of the company is Rs. 8206.15 crore.
The promoters holding in the company stood at 58.69%, while Institutions and Non-Institutions held 4.69% and 36.62% respectively.
Indian Metals & Ferro Alloys has entered into a power purchase agreement on May 25, 2026 with M/s EG Urja Strot for 29 years to supply hybrid renewable power of 65 MW Contracted Demand (Solar capacity of 81.4 MW, Wind capacity of 102.6 MW and BESS 25 MWh), under captive consumer structure as defined in the Electricity Act, 2003 and Electricity Rules, 2005.
Under the agreement, the company will subscribe to 26% equity capital in EG Urja Strot through cash consideration of Rs 110.18 crore in one or more tranches.
