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Madhucon benefits on subsidiary plans of set up coal based power project

12 Dec 2011

Madhucon Projects  is currently trading at Rs 57.60, up by 0.50 points or 0.88% from its previous closing of Rs. 57.10 on the BSE.

The scrip opened at Rs. 56.50 and has touched a high and low of Rs 57.60 and Rs 55.50 respectively. So far 624 shares were traded on the counter.

The BSE group 'B' stock of face value Re 1 has touched a 52 week high of Rs 126.00 on 14-Dec-2010 and a 52 week low of Rs 47.00 on 22-Nov-2011.

Last one week high and low of the scrip stood at Rs 60.75 and Rs 49.30 respectively. The current market cap of the company is Rs 421.37 crore.

The promoters holding in the company stood at 57.66% while Institutions and Non-Institutions held 20.95% and 19.97% respectively.

Madhucon Projects’ subsidiary Madhucon Infra is coming up with 1920 MW coal based power project near Nellore. The construction of Phase - I of 300 MW thermal power plant is completed in all respect. Simhapuri Energy has received the start up power from PGCL and SRLDC and the boiler light up process has commenced.

The company is now going for synchronization of phase I of 300 MW. By August 2012 phase II will be commissioned. Simhapuri Energy has also applied for the clearances of phase III of 1320 MW. The company aims to start the commissioning activities of phase III by 3rd or 4th quarter of 2012.

Madhucon Projects, a premier infrastructure development company specialized in construction of national highways, BOT toll roads, dams, canals, aqueducts, workshops, power projects, coal mines and residential cum commercial ventures, has works on hand to the extent of Rs 5,200 crore.

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