Octant Industries soars on getting clearance to set up 10MW bio mass power project

06 Mar 2012

Octant Industries is currently trading at Rs. 9.00, up by 0.46 points or 5.39% from its previous closing of Rs. 8.54 on the BSE.

The scrip opened at Rs. 8.90 and has touched a high and low of Rs. 9.05 and Rs. 8.53 respectively. So far 8329 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 28.90 on 21-Mar-2011 and a 52 week low of Rs. 5.53 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 9.60 and Rs. 8.43 respectively. The current market cap of the company is Rs. 22.64 crore.

The promoters holding in the company stood at 60.62% while Non-Institutions held 39.38% stake in the company.

Octant Industries has received clearance for construction of 10MW bio mass power project in Sambhalpur district, Orissa State from Orissa Pollution Control Board.

The company has also received clearance from various government authorities such as Orissa Power Transmission Corporation for evacuation of power. The above mentioned government authorities have inspected the site at Sambalpur district and expressed their willingness by giving the approvals.

The civil work with regard to the above are under progress and the plants and machinery orders has been placed with the parties as mentioned earlier. The power project will be commissioned within one year. This will add more value to the existing shareholders of Octant Industries.

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