Mukand shares gain on signing power delivery agreement with Tata Power arm

On September 5, 2023, the share price reached a 52-week high of Rs 198.00 while on October 27, 2022, it hit a low of Rs 100.75.

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Mukand share price up marginally in the early trade on October 30 after the company entered into a partnership with Tata Power Renewable Energy (TPREL), a subsidiary of Tata Power.

At 09:20 hrs Mukand was quoting at Rs 157.70, up Rs 0.65, or 0.41 percent on the BSE.

The two companies have entered into a Power Delivery Agreement (PDA) for a 43.75 MW AC Group Captive Solar project situated in Jamkhed, Maharashtra. This installation will generate 99.82 MUs every year. The primary objective of this project is to fulfil the energy requirements of Mukand Limited and make their steel manufacturing processes and production more environmentally friendly.

TPREL will undertake the construction, operation, and maintenance of this group’s captive solar power plant.

The project is scheduled to commission by March 2024 and TPREL reinforces its commitment to empowering its partners to adopt nonconventional energy solutions.

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A board of directors meeting for Mukand is scheduled for November 9, 2023. During the meeting, the un-audited financial results (both standalone and consolidated) for the quarter ended September 30, 2023, will be reviewed and approved.

On September 5, 2023, the share price reached a 52-week high of Rs 198.00 while on October 27, 2022, it hit a low of Rs 100.75.

As of now, the stock is trading 20.35 percent lower than its 52-week high and 56.53 percent higher than its 52-week low.

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