Sarda Energy & Minerals stock ends at 5% upper circuit after bagging approval for provision tariff of 113 MW Hydropower project

Madhya Bharat Power is a subsidiary of Sarda Energy.

Sep 23, 2021 04:09 IST India Infoline News Service

Sarda Energy & Minerals
Sarda Energy & Minerals has bagged the Hon'ble Chhattisgarh State Electricity Regulatory Commission approval for a provisional tariff of the 113 MW Hydropower Project of Madhya Bharat Power Corporation.

Madhya Bharat Power is a subsidiary of Sarda Energy.

Sarda Energy said that the Comission has "approved provisional tariff for the 113 MW Hydropower Project of Madhya Bharat Power Corporation Ltd. (a subsidiary of the Company) considering 85% of the cost of the project incurred as per audited accounts of the company as of 31st March 2021 with return on equity of 15.5% p.a. as per relevant regulations under the Electricity Act."

The company further said that the "final tariff will be determined based on the cost incurred up to the date of COD, as may be approved by the Commission, following the due process of law in due course."

On Sensex, Sarda Energy closed at the upper circuit of Rs708.40 per piece up 4.99%. 

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