GIPCL signs a Power Purchase Agreement with GUVNL

Gujarat Industries Power Company Limited, announced that the company has signed a Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL). The signed contract is for the balance 27.3 MW (2.1 MW x 13 WTGs), out of 50.4 MW (2.1MW X 24WTGs) Wind Power Project at the Kuchhdi site, Gujarat under the Letter of Intent dated February 12, 2016 issued to Suzlon Energy Limited.

Feb 01, 2017 11:02 IST India Infoline News Service

Examining Profits
Gujarat Industries Power Company Limited, announced that the company has signed a Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL). The signed contract is for the balance 27.3 MW (2.1 MW x 13 WTGs), out of 50.4 MW (2.1MW X 24WTGs) Wind Power Project at the Kuchhdi site, Gujarat under the Letter of Intent dated February 12, 2016 issued to Suzlon Energy Limited.
 
With the above, execution of PPA with GUVNL for the entire 50.4 MW Kuchhdi Wind Farm has been completed.
 
The stock has delivered 34.14% returns in a period of one year, outperforming the BSE Small-cap index and the BSE Power index in the same time span.

Stock view:-
 
Gujarat Industries Power Co Ltd is currently trading at Rs 110.8, up by Rs 0.4 or 0.36% from its previous closing of Rs 110.4 on the BSE.
 
The scrip opened at Rs 111.5 and has touched a high and low of Rs 113 and Rs 109.9 respectively. So far 83129(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1669.8 crore.
 
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 116.5 on 31-Jan-2017 and a 52 week low of Rs 74.4 on 15-Mar-2016. Last one week high and low of the scrip stood at Rs 116.5 and Rs 108.35 respectively.
 
The promoters holding in the company stood at 58.21 % while Institutions and Non-Institutions held 25.97 % and 15.82 % respectively.
 
The stock is currently trading above its 50 DMA.

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