Surana Telecom and Power gains on securing LoA for development of solar power project
Surana Telecom and Power is currently trading at Rs. 24.07, up by 0.17 points or 0.71% from its previous closing of Rs. 23.90 on the BSE.
The scrip opened at Rs. 23.77 and has touched a high and low of Rs. 25.80 and Rs. 23.55 respectively. So far 177768 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 30.48 on 05-Jul-2024 and a 52 week low of Rs. 13.93 on 13-May-2024.
Last one week high and low of the scrip stood at Rs. 25.80 and Rs. 20.57 respectively. The current market cap of the company is Rs. 327.05 crore.
The promoters holding in the company stood at 69.63%, while Institutions and Non-Institutions held 0.17% and 30.20% respectively.
Surana Telecom and Power has been awarded a Letter of Award (LoA) of Solar Power developer (SPD) for solar photovoltaic power generating stations of an aggregate capacity of 54 MW (AC) under Mukhyamanatri Saur Krushi Vahini Yojna 2.0, a scheme launched for implementation of feeder level Solarisation under Component C of PM-KUSUM Scheme from Maharashtra State Electricity Distribution Co. (MSEDCL) (A Govt. of Maharashtra Undertaking).
MSEDCL shall procure power from a project under Mukhya Mantri Saur Krushi Vahini Yojana 2.0 launched for implementation of feeder level solarization under Component C of PM KUSUM Scheme. The project shall be commissioned within 18 months from Letter of Award. The contract period shall be 25 years from the commissioning of the Project. This project will be located in the state of Maharashtra. The estimated project cost is Rs 190 crore.
The Company is mainly into the business of generation of renewable energy viz., Solar and Wind.
