Indowind Energy Limited
informed the exchanges Wednesday that the company has decided to set aside the receivables from TANGEDCO, Karnataka energy stock pending with BESCOM and receivables, totaling Rs15cr, for reducing debts to free up 9 MW capacity and for dispute settlements.
The company feels that this decision on completion will help the company to improve profits and future liquidity for expansion.
Indowind Energy Ltd ended at Rs8.67 per piece up by Rs0.3 or 3.58% from its previous closing of Rs8.37 per piece on the BSE.
The scrip opened at Rs8.45 and has touched a high and low of Rs8.76 and Rs8.20 respectively during intraday trade on Wednesday.