EKI Energy Services gains on inking pact with United States based FBO Resource Group, Inc – EQ
In Short : EKI Energy Services saw a surge in its stock after announcing a partnership with United States-based FBO Resource Group, Inc.. The agreement aims to enhance the company’s offerings in energy and environmental services, marking a significant step towards expanding its global reach. This collaboration is expected to strengthen EKI’s position in the renewable energy sector and boost its growth prospects.
In Detail : EKI Energy Services is currently trading at Rs. 285.00, up by 2.35 points or 0.83% from its previous closing of Rs. 282.65 on the BSE. The scrip opened at Rs. 280.00 and has touched a high and low of Rs. 290.05 and Rs. 276.30 respectively. So far 43276 shares were traded on the counter.
The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 508.00 on 08-Dec-2023 and a 52 week low of Rs. 268.10 on 01-April-2024. Last one week high and low of the scrip stood at Rs. 299.00 and Rs. 276.30 respectively. The current market cap of the company is Rs. 791.03 crore. The promoters holding in the company stood at 73.41%, while Non-Institutions held 26.59% stake in the company.
EKI Energy Services (EKIESL) has entered into a strategic representative agreement with the United States based FBO Resource Group, Inc., operating as Aviation Resource Group International (ARGI), to expand its operations in the North American country. This partnership aims to strengthen EKI’s carbon credits trading and sustainability services across North America, further solidifying its presence in the global carbon market.
Under the agreement, ARGI will act as an authorized partner to facilitate transactions between project owners, organizations, and EKI for carbon credit trading. The partnership will allow ARGI to promote EKI’s full suite of sustainability services, including greenhouse gas (GHG) accounting, carbon offsetting, and environmental, social, and governance (ESG) reporting, within the U.S. Market with a special focus on aviation industry.
The current agreement will be in place for an initial term of two years, with provisions for exclusivity to ensure focused collaboration between both parties. ARGI will introduce EKI to potential counterparties in the U.S. market, facilitating contracts for carbon credits and sustainability services.
EKI Energy Services is a well-recognized brand in the realm of ‘climate change, carbon credit, and sustainability solutions’ across the globe.
