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SGJHL spurts on bagging solar power project in Odisha

20 Mar 2012 Evaluate

Shree Ganesh Jewellery House is currently trading at Rs. 89.80, up by 1.00 points or 1.13% from its previous closing of Rs.88.80 on the BSE.

The scrip opened at Rs 90.00 and has touched a high and low of Rs 90.90 and Rs 89.00 respectively. So far 4207 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 286.00 on 30-Jun-2011 and a 52 week low of Rs 85.50 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs 96.70 and Rs 88.30 respectively. The current market cap of the company is Rs 538.86 crore.

The promoters holding in the company stood at 70.66% while Institutions and Non-Institutions held 12.70% and 16.64% respectively.

Shree Ganesh Jewellery House (SGJHL), one of the largest manufacturer-exporter of handcrafted gold jewellery in India has bagged a 25-MW solar power project in Odisha. The project will be executed by Kolkata-based Alex Green Energy in which the company holds a majority stake as Alex Green won the right to develop a 5-MW project in a solar auction in Odisha. Under the rules of the Odisha tender, the least bidder will be offered all the 25 MW at the winning price.

The company will be funding the total investment including the debt component for commissioning the solar plant in Odisha through Alex, which will be close to Rs 175 crore.

Recently, the company has acquired a controlling stake in the two companies - Alex Astral Power and Alex Spectrum Radiation-, co-promoted by Sureka Group, with a view to diversifying into solar power business.

Peers
Company Name CMP
Titan Co 4526.30
Kalyan Jewell.India 426.90
Rajesh Exports 125.34
Senco Gold 326.45
Thangamayil Jeweller 4205.90
View more..

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