Sarda Energy gains 4% on Rs 150-crore order win

The share touched a 52-week high of Rs 264.95 on December 15, 2023 and a 52-week low of Rs 96.70 on March 28, 2023

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Sarda Energy and Minerals share price rose over 4 percent in the opening trade on January 16 after the company said it received a Rs 150-crore contract to build solar power plant in Chhattisgarh.

At 9.21 am, Sarda Energy and Minerals was quoting at Rs 258.15, up Rs 10.45, or 4.22 percent, on the BSE.

” ……. has awarded a contract for installation of solar power plant of 50 MW DC in Chhattisgarh for meeting the captive requirements of the company’s production and mining facilities,” the company said in a press release.

Gensol Engineering awarded the project to design, construct and commission the solar power plant.

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The company’s board will meet on February 3 to consider and approve the unaudited financial and segment wise results for the third quarter of FY24.

In December 2023, the Chhattisgarh Environment Conservation Board, Raipur has granted to the company the consent to operate the enhanced capacity of its existing iron ore pellet plant from existing 8,00,000 tonnes per annum to 9,00,000 tonnes per annum.

The share touched a 52-week high of Rs 264.95 on December 15, 2023 and a 52-week low of Rs 96.70 on March 28, 2023. The stock is trading 2.57 percent below its 52-week high and 166.96 percent above its 52-week low.