PG Electroplast to acquire additional stake in solar power project

PG Electroplast Limited (the Company) on May 03, 2022 have entered into an Amendment Agreement with Solarstream Renewable Services Private Limited (Target Company) to additionally acquire 5.1% equity of the Target Company aggregating to 15.2% equity, for solar power generated at the Solar Power Plant to meet the electricity requirement for the Company's manufacturing plants located at Greater Noida, Uttar Pradesh in terms of the (Indian) Electricity Act, 2013.

The company will additionally purchase 1.04 MW / 1.55 MWp Solar Power aggregating to 3.10 MW / 4.65 MWp Solar Power generated at the Solar Power Plant.

Shares of PG Electroplast Limited was last trading in BSE at Rs. 781.05 as compared to the previous close of Rs. 787.55. The total number of shares traded during the day was 2120 in over 289 trades.

The stock hit an intraday high of Rs. 789.15 and intraday low of 770.30. The net turnover during the day was Rs. 1651080.00.

Source : Equity Bulls

Keywords

PGElectroplast INE457L01011 PGEL StakeAcquisition SolarstreamRenewableServices SolarPowerProject