BGR Energy Systems Limited announces encashment of bank guarantee by APGENCO

BGR Energy Systems Limited has received communications from the banks regarding the invocation and encashment of bank guarantee by Andhra Pradesh Power Generation Corporation Limited (APGENCO) amounting to Rs. 416.10 Crores based on Supply contract & Services contract executed with M/s. Andhra Pradesh Power Generation Corporation Limited ("APGENCO") in the year 2016 [Project Name: Dr. Narla Tatarao Thermal Power Station ("Dr NTTPS Project")], for which Union Bank of India, State Bank of India and Canara Bank had given bank guarantee on behalf of the Company. The Company has not received any notice of termination of contract.

Shares of BGR Energy Systems Limited was last trading in BSE at Rs. 36.90 as compared to the previous close of Rs. 36.18. The total number of shares traded during the day was 21549 in over 56 trades.

The stock hit an intraday high of Rs. 36.90 and intraday low of 36.90. The net turnover during the day was Rs. 795158.00.

Source : Equity Bulls

Keywords

BGREnergySystems INE661I01014 BankGuarantee Invocation Encashment APGENCO