MSP Steel & Power touches roof on entering into PPA with Elevate Solar Energy
MSP Steel & Power is locked at its upper circuit limit of Rs. 44.22, up by 2.10 points or 4.99% from its previous closing of Rs. 42.12 on the BSE.
The scrip opened at Rs. 43.00 and has touched a high and low of Rs. 44.22 and Rs. 42.55 respectively. So far 107908 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 45.04 on 01-Jun-2026 and a 52 week low of Rs. 26.16 on 30-Mar-2026.
Last one week high and low of the scrip stood at Rs. 44.22 and Rs. 41.15 respectively. The current market cap of the company is Rs. 2505.81 crore.
The promoters holding in the company stood at 40.22%, while Institutions and Non-Institutions held 16.92% and 42.86% respectively.
MSP Steel & Power has entered into a Power Purchase Agreement (PPA) with Elevate Solar Energy. The PPA relates to the Procurement of Solar Power facility of a contracted quantity of 10MWp (DC) of Electricity per annum at tariff rate of Rs 3.17 per unit by the company for a term of 25 years from the execution date of the agreement.
The said agreement has been executed under the Group Captive Open Access Permissions mechanism, aimed at optimizing energy costs and increasing the company’s renewable energy consumption. As part of the arrangement, the company is stated to acquire 26% of shareholding in Elevate Solar Energy corresponding to their Contracted Energy/Quantity on terms and conditions agreed upon in the Shareholders’ Agreement (to be executed on a later date).
