BGR Energy bags order worth Rs4,442.8cr; stock surges 20%

BGR Energy Systems Limited has bagged a contract for Rs4,442.75cr by TANGEDCO.

Dec 13, 2019 09:12 IST India Infoline News Service

BGR Energy Systems Limited (BGR Energy) informed the exchanges that on December 12, 2019 the Company was awarded a contract by Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) for execution of of 1x660 MW Supercritical Ennore Thermal Power Station Expansion Project under EPC basis. The Scope of contract includes design, engineering and supply of all equipment, civil works, erection, testing and commissioning of all systems and performance guarantee of power plant.

The stock price of the company surged 20% in trade today on NSE.

The total value of the project is Rs4,442.75cr (Rupees Four thousand four hundred forty two crores and seventy five lakhs only) including all taxes and duties to complete the contract. The overall contract completion period is 36 months from the date of Letter of Intent. The contract provides for payment in foreign currency for imported items up to USD 114.49 million and adjustment of price due to change in rates of taxes and duties.

The Company's current order book is Rs8,460cr including this contract. 

Stock view:
BGR Energy Systems Ltd is currently trading at Rs35.50 up by Rs5.9 or 19.93% from its previous closing of Rs29.60 on the BSE.

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