Welspun India advances on the subsidiary plans of setting up solar parks across four states

10 Jul 2013

Welspun India is currently trading at Rs. 57.90, up by 0.80 points or 1.40 % from its previous closing of Rs. 57.10 on the BSE.

The scrip opened at Rs. 57.90 and has touched a high and low of Rs. 57.90 and Rs. 57.90 respectively. So far 350 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 82.80 on 01-Feb-2013 and a 52 week low of Rs. 50.00 on 14-Sep-2012.

Last one week high and low of the scrip stood at Rs. 60.10 and Rs. 57.00 respectively. The current market cap of the company is Rs. 579.16 crore.

The promoters holding in the company stood at 68.28% while Institutions and Non-Institutions held 16.80% and 14.92% respectively.

Welspun India’s business arm - Welspun Energy (WEL), the country’s biggest developer of solar projects is planning to set up solar parks across four states. In this regard, the company has already initiated work on a 100 megawatt solar park in Rajasthan, for which it is currently acquiring land. The company will require around 500 acres of land for developing solar park in Rajasthan.

The average investment in a park would be around Rs 100 crore for land development and evacuation infrastructure like setting up sub-stations. It is also looking around for investors into the parks. The company already provides engineering, procurement and construction (EPC) services to those who wish to set-up solar capacity. Their solar EPC order-book is around Rs 1,500 crore.

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