The stock of Veer Energy and Infrastructure gained over 13% on Monday’s trading session on the BSE as the company announced that it has received a letter of interest from Maharashtra Energy Development Agency (MEDA), Pune, opinion on the installation of a solar or hybrid project at its existing wind projects.
Veer Energy and Infrastructure ended at Rs 32.15, up by Rs 3.80 or 13.40% on Monday, on the BSE. The stock hit its intraday high and low of Rs 33.50 and Rs 28.35, respectively.
The company has expressed their willingness to develop and has decided to start ‘Hybrid Division’. The company wants to develop 10 MW solar or hybrid project on their existing approval of wind farm project for 10 MW at Dhule. The new introduction of hybrid division in which installation/development cost would reduce by 50%, said the company in a BSE filing on Monday.
Stock view:
Veer Energy & Infrastructure Ltd ended at Rs 32.15, up by Rs 3.8 or 13.4% from its previous closing of Rs 28.35 on the BSE.
The scrip opened at Rs 28.35 and touched a high and low of Rs 33.5 and Rs 28.35 respectively. A total of 632846(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 29.38 crore.
The BSE group ‘XC’ stock of face value Rs 10 touched a 52 week high of Rs 34.05 on 20-Oct-2016 and a 52 week low of Rs 20.1 on 16-Aug-2016. Last one week high and low of the scrip stood at Rs 28.65 and Rs 23.5 respectively.
The promoters holding in the company stood at 25.47 % while Institutions and Non-Institutions held 24.12 % and 50.41 % respectively.
The stock traded above its 200 DMA.
Source: indiainfoline
