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Focus on Bhageria Industries: Shares of Bhageria Industries were hot on Wednesday, October 16, 2024. The stock surged as much as 4.98 percent to hit an intraday high of Rs 226.45 per share.
The rise in share price of Bhageria Industries came after the company announced that it had obtained a letter of award (LoA) from Maharashtra State Electricity Distribution, for a solar power developer (SPD ) for solar PV plants with a total capacity of 32 MW (AC) under Mukhyamantri Saur Krushi Vahini Yojana 2.0.
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In an exchange filing, Bhageria Industries said: “We would like to inform you that the company, in the ordinary course of business, has received a Letter of Award (LoA) for a Solar Power Developer (SPD) for photovoltaic solar power plants for a total amount of $1,000,000. capacity of 32 MW(AC) under Mukhyamantri Saur Krushi Vahini Yojana 2.0 – a scheme launched for implementation of solarization at power level under Component C of PMKUSUM scheme.
Under the terms of the order, Bhageria Industries will be responsible for power generation.
Additionally, the Maharashtra State Electricity Distribution Company Limited (MSEDCL) will purchase the electricity generated by the project for 25 years from the planned commercial operation date.
Bhageria Industries Limited is an Indian chemical manufacturing company established in 1989, engaged in the production of colorants, chemicals and dyeing intermediates.
Its product range includes vinyl sulfone, H acid and gamma acid, which serve a wide range of industries such as electronics, information technology, food, textiles, leather , paints and coatings, construction, infrastructure and healthcare.
With a strong export footprint, the company supplies its products to markets in Korea, Japan, Taiwan, China, Indonesia, Thailand, USA, Europe and Africa.
In addition to its chemical manufacturing operations, Bhageria Industries is committed to sustainable development, generating solar power through a 39 MWdc solar power plant in Ahmednagar, Maharashtra, and a 4,000 MW solar roof project. 78 MW in Chennai.
The company has manufacturing facilities in Gujarat and Maharashtra.
The market capitalization of Bhageria Industries is Rs 980 crore, according to the BSE.
At 11:10 am, shares of Bhageria Industries were trading 4.10 per cent higher at 224.55. In comparison, BSE Sensex was trading 0.10 percent lower at 81,738.44 levels.
First publication: October 16, 2024 | 11:19 a.m. STI
