ISMT climbs on commissioning operations of Solar Plant in Maharashtra
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ISMT is currently trading at Rs. 144.20, up by 12.85 points or 9.78% from its previous closing of Rs. 131.35 on the BSE.
The scrip opened at Rs. 133.50 and has touched a high and low of Rs. 146.90 and Rs. 132.15 respectively. So far 168412 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 146.90 on 02-July-2024 and a 52 week low of Rs. 69.00 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 146.90 and Rs. 127.95 respectively. The current market cap of the company is Rs. 4297.17 crore.
The promoters holding in the company stood at 74.95%, while Institutions and Non-Institutions held 0.40% and 24.65% respectively.
ISMT has commissioned operations of the Solar Plant situated at Mantha, Helas, Jalna, Maharashtra from July 01, 2024. It is followed by the receipt of the commencement certificate issued by ‘Maharashtra State Electricity Distribution Company’. The installation of the Solar Plant has been completed in Phase I with the capacity of 35 MW DC (out of total project capacity of 70 MW DC).
The sum of around Rs 138 crore (net of recoverable taxes) has been incurred till date towards the capital expenditure and the same has been financed through internal accruals. Operations of the Solar Plant will benefit the Company by way of reduction in the power costs.
ISMT is predominantly engaged in the manufacturing of specialty alloy and bearing Steel.
