Ravindra Energy zooms on receiving LoA from MSEDCL
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Ravindra Energy is currently trading at Rs. 85.93, up by 3.45 points or 4.18% from its previous closing of Rs. 82.48 on the BSE.
The scrip opened at Rs. 86.49 and has touched a high and low of Rs. 86.58 and Rs. 84.30 respectively. So far 41538 shares were traded on the counter.
The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 129.70 on 29-Jan-2024 and a 52 week low of Rs. 40.00 on 05-Apr-2023.
Last one week high and low of the scrip stood at Rs. 96.73 and Rs. 80.20 respectively. The current market cap of the company is Rs. 1334.09 crore.
The promoters holding in the company stood at 74.99%, while Institutions and Non-Institutions held 0.07% and 24.94% respectively.
Ravindra Energy (REL) has received a Letter of Award (LoA) from Maharashtra State Electricity Distribution Company (MSEDCL), to develop and operate 100 MW(AC) of decentralized feeder level PV solar projects. This LoA has been issued under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY) of the Government of Maharashtra.
100 MW projects are spread across 19 substation of MSEDCL. MSEDCL will enter into a 25 year Power Purchase Agreement (PPA) with REL. The projects will be eligible for central financial assistance of Rs 1.05 crore per MW under the KUSUM C Scheme of the Central Government.
Ravindra Energy engages in the trading of coal primarily in India.
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