iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Varroc Engineering's Shares Hit 52-Week High on Renewable Power Agreement

4 Oct 2023 , 12:46 PM

Varroc Engineering shares initially surged 2.9% and hit a new 52-week high on October 4 but later traded flat. Varroc Polymers, a subsidiary of Varroc Engineering, enters a power purchase agreement with AMP Energy C&I Six and AMP Energy C&I Five SPVs to source power.

The SPVs will establish renewable power plants in Karnataka and Tamil Nadu with captive capacities of 30 MWp and 21 MWp respectively under the captive power scheme. Varroc Polymers is set to acquire a 1% stake in AMP Energy C&I Six for Rs 40 lakh and a 3% stake in AMP Energy C&I Five for Rs 80 lakh.

This agreement will allow Varroc Polymers to source solar power for its manufacturing plants in Karnataka and Tamil Nadu.

For feedback and suggestions, write to us at editorial@iifl.com

 

Related Tags

  • AMP Energy
  • Solar Power Deal
  • Varroc Polymers
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.