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DPSC’s subsidiary joins hands with Punj Lloyd Infrastructure to develop solar assets

DPSC’s subsidiary joins hands with Punj Lloyd Infrastructure to develop solar assets

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DPSC Ltd.’s wholly owned subsidiary, India Power Green Utility has agreed to co-develop 20 MW(10 MW each) of solar projects in association with Punj Lloyd Infrastructure, to be executed by PL Sunrays Ltd., & PL Solar Renewable Ltd., the wholly owned subsidiaries of Punj Lloyd Infrastructure.

As per the transaction, India Power Green Utility has acquired 49% of shareholding in PL Sunrays Ltd., & PL Solar Renewable Ltd.

Established in the year 1919, DPSC Limited has emerged as an esteemed Power company in West Bengal with a track record of performance in introducing state-of –the –art Power technologies.

DPSC has over the years prioritized Generation, Transmission & Distribution of power within its command area in W.B.

The Thermal Power Stations of the company are located at Dishergarh, Chinakuri, & Solar Power at Seebpore in association with West Bengal Green Energy Development Corporation Limited (WBGEDCL).

Stock view:

India Power Corporation Ltd opened at Rs 43.65 and has touched a high and low of Rs 43.65 and Rs 41.7 respectively.

So far 12320(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 4221.38 crore.

The BSE group ” stock of face value Rs 1 has touched a 52 week high of Rs 48.6 on 16-Jan-2017 and a 52 week low of Rs 14.5 on 23-Mar-2016.

Last one week high and low of the scrip stood at Rs 43.85 and Rs 40.25 respectively.

The promoters holding in the company stood at 68.31 % while Institutions and Non-Institutions held 0.13 % and 31.56 % respectively.

The stock is currently trading above its 50 DMA.

Source:indiainfoline
Anand Gupta Editor - EQ Int'l Media Network

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