Energy Development Company Ltd to consider fund raising for projects

Energy Development Company Ltd is executing several power projects in the states of Arunachal Pradesh and Uttarakhand through its various subsidiaries, which requires huge investment. The Board of Directors at its meeting held on November 01, 2015 has decided to bring in financial partner(s)/ strategic investors(s) for effective / speedy implementation / execution of these projects. The ongoing preferential issue of shares is also a part of such financial restructuring.

Shares of ENERGY DEVELOPMENT COMPANY LTD. was last trading in BSE at Rs.33.4 as compared to the previous close of Rs. 34.55. The total number of shares traded during the day was 12240 in over 68 trades.

The stock hit an intraday high of Rs. 35.65 and intraday low of 33. The net turnover during the day was Rs. 418996.

Source : Equity Bulls

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