Tamil Nadu Transmission Corporation Ltd terminates contract given to BGR Energy Systems Ltd

Tamil Nadu Transmission Corporation Limited vide letter dated 11/01/2024 has terminated the contract for an amount (including GST) of Rs.224.29 crore awarded to the Company for establishment of 400/230-110 kV AIS SS at Edayarpalayam in Coimbatore Operation Circle of Coimbatore Region on total turnkey basis vide Lr.No.CE/TR/SE/TR IV/EE3/AEE1/F.T-2097/LOA. No.3066/D.01/2020 dated 07/01/2020. Poor progress of work has been cited as the reason for termination.

Shares of BGR Energy Systems Limited was last trading in BSE at Rs. 95.38 as compared to the previous close of Rs. 92.63. The total number of shares traded during the day was 164046 in over 2609 trades.

The stock hit an intraday high of Rs. 96.00 and intraday low of 89.20. The net turnover during the day was Rs. 15355747.00.

Source : Equity Bulls

Keywords

BGREnergySystems INE661I01014 TamilNaduTransmissionCorporation ContractTermination