Lanco Infratech soars as arm declares commercial operation of Thermal Power Project Unit-2

18 Sep 2012

Lanco Infratech is currently trading at Rs. 13.10, up by 0.67 points or 5.39% from its previous closing of Rs. 12.43 on the BSE.

The scrip opened at Rs. 12.90 and has touched a high and low of Rs. 13.19 and Rs. 12.60 respectively. So far 16,77,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 25.10 on 17-Feb-2012 and a 52 week low of Rs. 8.50 on 19-Dec-2011.

Last one week high and low of the scrip stood at Rs. 13.19 and Rs. 10.66 respectively. The current market cap of the company is Rs. 3,154.00 crore.

The promoters holding in the company stood at 72.11% while Institutions and Non-Institutions held 7.82% and 20.08% respectively.

Lanco Infratech’s subsidiary Udupi Power Corporation, having setup Imported Coal Based Thermal Power Project Unit-2 of 1200 MW (2 x 600 MW) in Udupi District, Karnataka, after completion of the formalities, has declared the commercial operation on August 19, 2012. With this, both the units of the project are in operation.

Further, the principal buyers of power have established 400 KV Transmission Line to evacuate power from the project. The Government of Karnataka has dedicated the Transmission Line to the Nation on September 12, 2012.

Lanco Infratech is one of India’s top business conglomerates and among the fastest growing. The company has subsidiaries and divisions across a synergistic span of verticals. These include EPC, construction, power, infrastructure and property development.

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