Nava Bharat Ventures updates on operations of its Zambian subsidiary; Stock jumps 5%

The current market cap of the company is Rs1,546.19cr.

Aug 30, 2021 03:08 IST India Infoline News Service

Nava Bharat Ventures Ltd has informed earlier, the Company's Zambian subsidiary 'Maamba Collieries Limited' (MCL) had planned the major overhaul of the two units of 150 MW each, as mandated by the OEMs, sequentially in this calendar year.

The major overhaul and resumption of generation of the first unit got delayed due to unforeseen damage to certain critical parts requiring replacement and extension of the outage.

This Unit has since resumed generation by end of July 2021 and is in normal operation.

As planned, the major overhaul of the second unit of 150 MW has now been taken up and is expected to be completed by end of October 2021.

On Sensex, at around 3:05 PM, Nava Bharat Ventures was trading at Rs108.80 apiece up by Rs4.85 or 4.67% on Sensex.

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