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Madhucon Projects jumps as phase-I of Simhapuri project all set for production

12 Mar 2012 Evaluate

Madhucon Projects is currently trading at Rs. 59.70, up by 1.40 points or 2.40% from its previous closing of Rs. 58.30 on the BSE.

The scrip opened at Rs. 60.00 and has touched a high and low of Rs. 60.25 and Rs. 58.35 respectively. So far 1449 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 112.00 on 28-Apr-2011 and a 52 week low of Rs. 46.00 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 64.70 and Rs. 58.00 respectively. The current market cap of the company is Rs. 443.14 crore.

The promoters holding in the company stood at 57.80% while Institutions and Non-Institutions held 21.63% and 20.57% respectively.

Madhucon Projects has initiated trial runs at unit one (150 MW) in the first phase of its Simhapuri thermal power plant project. The company is developing this 1920-MW project, located in Nellore district of Andhra Pradesh, in three phases. The first two phases' capacity is 300 MW each and the third, 1,320 MW.

The coal plant's phase one is generating about 50 MW now and gradually, this will be scaled up to 150 MW. The second unit will also be ready for synchronization by month-end. The company also plans to expedite implementation of the second phase of 300 MW unit. Majority of work on the second phase have been completed simultaneously.

This coastal area project relies on imported coal. Madhucon Projects has made arrangements for coal from the Indonesia-based PTC. The plant has 60 days worth of fuel stock. While initial arrangement is through the contracted purchase, down the line, company expects to procure coal from its mines in Indonesia.

Madhucon Projects Share Price

5.09 -0.25 (-4.68%)
17-Apr-2026 16:59 View Price Chart
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