GK Energy Shares Surge 6% on LoE worth Rs 353 Crore
GK Energy Ltd. shares rose as much as 6% on Wednesday, 6 May, after the firm announced that it has acquired a Letter of Empanelment (LoE) from Maharashtra State Electricity Distribution Company Ltd. for 15,000 off-grid DC solar photovoltaic water pumping systems across Maharashtra. The order awarded under the Magel... The post GK Energy Shares Surge 6% on LoE worth Rs 353 Crore appeared first on Equitypandit.
GK Energy Ltd. shares rose as much as 6% on Wednesday, 6 May, after the firm announced that it has acquired a Letter of Empanelment (LoE) from Maharashtra State Electricity Distribution Company Ltd. for 15,000 off-grid DC solar photovoltaic water pumping systems across Maharashtra.
The order awarded under the Magel Tyala Saur Krushi Pump Yojana is valued at Rs 353.89 crore, inclusive of GST, according to the company’s exchange report.
The scope of work comprises designing, manufacturing, supplying, transporting, installing, testing, and commissioning off-grid DC solar photovoltaic water pumping systems (SPWPS) with capacities of 3 HP, 5 HP, and 7.5 HP.
GK Energy stated that the project must be completed within 60 days of the work order or notice to proceed (NTP) being issued.
According to the corporation, the contract was awarded by a domestic body and does not constitute a related party transaction.
At 11:35 am, the shares of GK Energy were trading 4.66% higher at Rs 135.38 on NSE.
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The post GK Energy Shares Surge 6% on LoE worth Rs 353 Crore appeared first on Equitypandit.
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