Ducon Infratechnologies hits upper circuit on announcing 1 bonus share for every 10 shares

28 Feb 2022 , 01:18 PM

Ducon Infratechnologies Limited, India’s leading Clean technology company for Fossil fuel-fired plants has announced a Bonus issue of 1 share for every 10 shares. The Board has also approved an increase of authorized capital from Rs25 crore to Rs30 crore to meet the increasing growth capital needs of the company.

The company stock was in demand on Monday and at around 1.22 pm, Ducon Infratechnologies Ltd was trading at Rs25.65 per share up by Rs1.2 or 4.91% (5% upper circuit) from its previous closing of Rs24.45 per share on the BSE.

Arun Govil, Chairman and Managing Director said, “As we do our part in India’s goal to meet global emission standards we will also monetize the opportunity that India’s transformation to Clean Energy is opening up for us. We thank our shareholders for their abiding faith in the company’s execution and monetization ability.

The bonus is way to express our gratitude to our shareholders. We will continue to share the fruits of our efforts with our shareholders as we scale, monetize the business”
“He further stated “India stands at an inflection point in transforming to Clean Energy. While this transition takes place, India is also bringing clean technology to Fossil Fuel fired plants (ie Coal based plants) which currently generate 80% of India’s energy needs. Ducon stands at the crossroads of the clean technology that makes it possible for Coal based plants to turn Clean i.e Flue Gas Desulphurization (FGD). With deep expertise and access to proprietary FGD and accompanying Catalyst technology we stand at not just helping India meet global emission standards but also in monetizing this inflection point in India’s Clean Energy transformation.

In Power alone almost 200GW (75% installed capacity) is fossil fuel/coal based and has to be put through FGD technology for meeting mandated standards. With less than 1/3 of this capacity even tendered for turning clean, the opportunity for Ducon is exponential and immediate.”