Supreme Industries gains on signing PDA with O2 Renewable Energy XIV
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Supreme Industries is currently trading at Rs. 4086.90, up by 31.45 points or 0.78% from its previous closing of Rs. 4055.45 on the BSE.
The scrip opened at Rs. 4055.45 and has touched a high and low of Rs. 4112.50 and Rs. 3989.35 respectively. So far 8895 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 4883.75 on 20-Oct-2023 and a 52 week low of Rs. 2430.50 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 4112.50 and Rs. 3629.90 respectively. The current market cap of the company is Rs. 51826.96 crore.
The promoters holding in the company stood at 48.85%, while Institutions and Non-Institutions held 36.84% and 14.31% respectively.
Supreme Industries has entered and signed the Power Delivery Agreement (PDA) and Security Subscription and Shareholder Agreement (SSSHA) for 33.75 Mwp (25 Mw) Solar Power Under Captive Mode with O2 Renewable Energy XIV, a Special Purpose Vehicle (SPV) formed by O2 Energy SG PTE.
The company will be investing about Rs 12.49 crore and will be holding 26% Equity shares in the O2 Renewable Energy XIV SPV. The Renewable Solar Power project located at Village-Motala District Buldhana Maharashtra. Solar Power project will be generating approximate 57.86 Million Units Per Annum ( Ex-bus bar).
The said project will supply Solar Power to the company's 6 Units located at Gadegaon, Jalgaon-I, Jalgaon-II , Khopoli, Talegaon and Urse, all located in Maharashtra State. The Commercial Operational Date (COD) of the project will be on or before June 1, 2024, subject to regulatory approvals.
Supreme Industries is India's leading plastic processing company with seven business divisions. The company has forayed into different types of plastic processing in Injection Moulding, Rotational Moulding (ROTO), Extrusion, Compression Moulding, Blow Moulding etc.
