13 Sep 2024

CESC Stock Rises as Subsidiary Incorporates New Company

CESC shares are trading at Rs. 199.45, showing an increase of 4.65 points or 2.39% from its previous close of Rs. 194.80 on the BSE.

The stock opened at Rs. 196.45, hitting a high of Rs. 200.70 and a low of Rs. 195.55. A total of 107,910 shares have been traded so far.

This BSE group 'A' stock, with a face value of Rs. 1, previously reached a 52-week high of Rs. 210.00 on August 27, 2024, and a 52-week low of Rs. 82.45 on October 26, 2023.

Over the last week, the stock ranged between Rs. 201.40 and Rs. 182.10. The company's market capitalization now stands at Rs. 26,206.53 crore.

Promoters hold a 52.11% stake in the company, while institutional investors and others hold 36.20% and 11.69%, respectively.

CESC's subsidiary, Purvah Green Power, has set up a wholly owned subsidiary, Redgaint Renewable Power Energy (RRPEPL), on September 11, 2024. RRPEPL is established to explore opportunities in the renewable energy sector. The subscribed and paid-up capital of RRPEPL is Rs. 1,00,000.

CESC operates in the power generation and distribution sector in West Bengal, with a fully integrated utility model, spanning from coal mining to power distribution.