Surana Telecom and Power surges on incorporating wholly owned subsidiary
The scrip is currently trading at Rs 20.99, up by 0.44 points or 2.14% from its previous closing of Rs 20.55 on the BSE.
The scrip opened at Rs 19.75 and has touched a high and low of Rs 21.59 and Rs 19.75 respectively. So far 7257 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 23.48 and Rs 19.58 respectively. The current market cap of the company is Rs 284.96 crore.
The promoters holding in the company stood at 69.63%, while Institutions and Non-Institutions held 0.18% and 30.19% respectively.
Surana Telecom and Power has incorporated a wholly owned subsidiary (WOS) in the name of ‘SUNVIBE ENERGY’ on January 28, 2025. The objective of incorporation is to carry on the business of trading, distributing, supplying, generating, transmitting and manufacture of solar and renewable energy related products and also to execute various solar projects.
Earlier, the company had secured 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).
The company is mainly into the business of generation of renewable energy viz., solar and wind.
