Madhucon Projects zooms as its arm develops thermal project in AP

18 Jul 2012

Madhucon Projects is currently trading at Rs. 36.10, up by 1.65 points or 4.79% from its previous closing of Rs. 34.45 on the BSE.

The scrip opened at Rs. 35.20 and has touched a high and low of Rs. 36.45 and Rs. 35.20 respectively. So far 5755 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 93.90 on 08-Sep-2011 and a 52 week low of Rs. 33.35 on 20-Jun-2012.

Last one week high and low of the scrip stood at Rs. 39.20 and Rs. 34.10 respectively. The current market cap of the company is Rs. 267.51 crore.

The promoters holding in the company stood at 57.84% while Institutions and Non-Institutions held 19.92% and 20.81% respectively.

Simhapuri Energy a 100% subsidiary of Madhucon Infra is developing 1,920 MW coal fired thermal project near Nellore, in India with a total project cost of around Rs 11270 crore ($2,500 million) in three phases.

Unit-1 with 150 MW capacity of phase-I project of SEPL at Thamminapatnam village, near Krishnapatnam South sea port, SPSR Nellorw district, Andhra Pradesh (AP) has been declared commercial operation with effect from zero hours of May 4, 2012 while, Unit-2 of 150 MW capacity of Phase 1 project of Simhapuri Energy has been declared commercial operation with effect from zero hours of July 15, 2012 after the synchronization to the SR grid on May 25, 2012.

70% of capacity is supplied to PTC under tolling agreement and balance 30% of the capacity is supplied as merchant power.

The construction of phase 2 of 300 MW is in full swing and is expected to be completed by November/ December, 2012 taking the operational capacity to 600 MW. The topline of power company with 2 phases operating for the financial year 2012-13 is expected to be Rs 600 crore.

Madhucon Infra, 100% subsidiary of Madhucon Projects, is having road, vertical, power vertical and coalmine vertical.

Related Madhucon Projects Ltd. Links:

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