Enviro Infra Engineers Share Price Surges Over 11% Following Stake Acquisition, New Projects
Enviro Infra Engineers' subsidiary, EIE Renewables, has acquired a 49% stake in Soltrix Energy Solution.
Enviro Infra Engineers Ltd.'s share price rose by 11.15% on Tuesday. This increase follows the company's expansion in the renewable energy sector and the acquisition of new projects.
Its subsidiary, EIE Renewables, has acquired a 49% stake in Soltrix Energy Solution. Additionally, the company received a Letter of Intent from PTC India Financial Services to develop a 40 MW grid-connected solar power project in Odisha. The acquisition cost for this project is Rs 115.6 crore.
The project involves the development of a 40 MW (AC) grid-connected solar power plant in the Bolangir district of Odisha, where solar power generation will be sold at a tariff of Rs 4.10 per unit for a period of approximately 18 years.
Enviro Infra Engineers has also secured new projects worth Rs 306 crore in the domestic market.
Enviro Infra Engineers Share Price Today
The scrip rose as much as 11.15% to Rs 235 apiece. It pared gains to trade 9.42% higher at Rs 231.35 apiece, as of 09:41 a.m. This compares to a 0.71% advance in the NSE Nifty 50.
It has risen 11.73% in the last 12 months. Total traded volume so far in the day stood at 5.6 times its 30-day average. The relative strength index was at 56.
