PTC India jumps on inking agreements with five technology companies

PTC India is currently trading at Rs. 82.90, up by 1.00 points or 1.22% from its previous closing of Rs. 81.90 on the BSE.

The scrip opened at Rs. 82.80 and has touched a high and low of Rs. 83.90 and Rs. 81.65 respectively. So far 46231 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 144.45 on 19-Oct-2021 and a 52 week low of Rs. 70.25 on 23-Jun-2022.

Last one week high and low of the scrip stood at Rs. 83.90 and Rs. 78.30 respectively. The current market cap of the company is Rs. 2450.95 crore.

The promoters holding in the company stood at 16.22%, while Institutions and Non-Institutions held 43.00% and 40.79% respectively.

PTC India has inked agreements with five technology companies such as Ircon International, Greenstat, AutoGrid, Hexagon and Chemtrols. With Ircon, PTC is aiming to collaborate on project management consultancy, transmission & distribution projects, DPR preparation, survey/site assessment, engineering/structuring, and bid process management for various projects.

Norwegian company Greenstat and PTC are working towards the development of green hydrogen projects in India as well as identifying opportunities for the development of a ‘centre of excellence for facilitation of green hydrogen.’

In the partnership with AutoGrid, PTC will offer solutions for demand side management for distribution utilities, potential opportunities in the implementation of virtual power plants in India and offer technical solutions for supplying and procuring the round-the-clock power from renewable energy sources and other solutions in related segments.

Along with Hexagon, a Swedish multinational, PTC seeks to deploy technology-based solutions in project life cycle management for conventional and renewable energy assets, geospatial mapping and safety infrastructure in the field of transmission and distribution and other related segments.

Under the agreement with Chemtrols, PTC is seeking to partner with a strong front-end implementation team to deploy technology solutions in the segments of utility management, renewable energy management and system automation.

PTC India is principally engaged in trading of power. PTC holds Category I license from Central Electricity Regulatory Commission (CERC), the highest category with permission to trade unlimited volumes.