Lanco Infratech is currently trading at Rs. 14.13, up by 0.23 points or 1.65% from its previous closing of Rs. 13.90 on the BSE.
The scrip opened at Rs. 14.15 and has touched a high and low of Rs. 14.20 and Rs. 14.05 respectively. So far 4, 68,000 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. 14.46 and Rs. 12.45 respectively. The current market cap of the company is Rs. 3,402 crore.
The promoters holding in the company stood at 72.00% while Institutions and Non-Institutions held 6.58% and 21.42% respectively.
Lanco Infratech (LITL), the leading integrated infrastructure conglomerate with global footprints having business verticals viz. EPC, Power, Solar, Natural Resources and Infrastructure has achieved a major breakthrough in long term sale of 300 MW power from its Unit 1 of Lanco Amarkantak Thermal Power Station. Madhya Pradesh Electricity Regulatory Commission (MPERC), December 01, 2012, has approved the procurement process and price for long term power procurement by Madhya Pradesh from Power Trading Corporation (PTC) to be sourced from Lanco Amarkantak thermal power station.
Lanco is operating the 2 x 300 MW Lanco Amarkantak power plant near Pathadi village in Korba district in Chhattisgarh. This is Lanco Group's first domestic coal based plant, using coal from nearby mines of South Eastern Coalfields (SECL). Power supply to Madhya Pradesh from the plant could not commence due to certain disputes in the Power Purchase Agreement (PPA) signed in 2005. The longstanding imbroglio has been recently resolved with MP Power Management Company (MPPMC) (representing the State Discoms), PTC and Lanco coming together to reach a settlement.
A Settlement Agreement was concluded on October 16, 2012 among the MP Power Management Company, PTC and Lanco which marked an end to the litigations at various forums and paved the way for commencement of supply of 300 MW from Lanco Amarkantak Unit 1 to distribution companies (discoms) of MP through PTC/MPPMC on long-term basis as per CERC regulations with fuel as pass through. In a related development, on November 30, 2012, the Government of Madhya Pradesh also withdrew the debarment imposed by them previously, thus enabling Lanco Group companies to participate in all government projects in the State with immediate effect.
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