BGR Energy Systems Ltd updates on reinstatement of contract by TANGEDCO

BGR Energy Systems Ltd had earlier announced the cancellation of Letter of Intent (LOI) regarding the award of contract for execution of 1x660 MW Supercritical Ennore Thermal Power Station (ETPS) expansion project by the customer viz. Tamil Nadu Generation and Distribution Corporation (TANGEDCO) and the company had moved the Hon'ble High Court of Madras challenging the said cancellation.

The company has received amendment to the LOI on March 9, 2022 issued by TANGEDCO for reinstatement of contract for 1x660 MW Supercritical ETPS Expansion Project. The value of the contract of Rs. 4442.75 crores remains unchanged and the 'Zero date' for commencement of contract is revised to March 9, 2022.

Shares of BGR Energy Systems Limited was last trading in BSE at Rs. 84.45 as compared to the previous close of Rs. 76.80. The total number of shares traded during the day was 87960 in over 1775 trades.

The stock hit an intraday high of Rs. 84.45 and intraday low of 78.00. The net turnover during the day was Rs. 7243110.00.

Source : Equity Bulls

Keywords

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