Nava Bharat Ventures is currently trading at Rs. 154.00, up by 0.50 points or 0.33% from its previous closing of Rs. 153.50 on the BSE.
The scrip opened at Rs. 152.50 and has touched a high and low of Rs. 154.00 and Rs. 152.00 respectively. So far 757 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 192.05 on 07-May-2013 and a 52 week low of Rs. 150.50 on 24-Feb-2014.
Last one week high and low of the scrip stood at Rs. 157.10 and Rs. 150.50 respectively. The current market cap of the company is Rs. 1375.03 crore.
The promoters holding in the company stood at 43.32% while Institutions and Non-Institutions held 32.96% and 23.72% respectively.
Nava Bharat Ventures is expecting to achieve financial closure (on a non-recourse basis) for its mine-mouth, coal-fired power project in Zambia by June 2014. Of the total investment of $700 million proposed to be infused into the project, the total loan component includes $560 million, for which sanctions have already been received.
Around 65% of work on the project, being developed by Nava Bharat’s unit Maamba Collieries, has been completed and the commissioning of the project is scheduled in Q4 FY2015. The company has already entered into power purchase and transmission agreements with Zambian state power company Zesco for the 300 Mw.
Nava Bharat Ventures is a Hyderabad-based company with interests in power, coal mining, ferro alloys and sugar.
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