20 Sep 2024

CESC Shares Gain After Subsidiary Signs Agreement with Ecoren Energy India

CESC shares are currently trading at Rs. 189.45, showing an increase of 0.20 points or 0.11% compared to its previous close of Rs. 189.25 on the BSE.

The stock opened at Rs. 190.00, reaching a high of Rs. 190.45 and a low of Rs. 187.35 so far. A total of 91,080 shares have been exchanged.

CESC, part of the BSE 'A' group, with a face value of Rs. 1, hit a 52-week high of Rs. 210.00 on 27 August 2024 and a 52-week low of Rs. 82.45 on 26 October 2023.

Over the past week, the stock's high was Rs. 198.75, and its low was Rs. 183.65. The company's current market capitalization stands at Rs. 25,159.33 crore.

The promoter's stake in the company is 52.11%, with institutions holding 36.20% and non-institutional investors holding 11.69%.

CESC's subsidiary, Purvah Green Power, has signed a binding term sheet with Ecoren Energy India to develop a wind power project with a capacity of up to 686.85 MW. Ecoren Energy India is an independent company not linked to CESC’s promoters. The project is expected to be operational within three years, pending approvals and completion of necessary civil and electrical work.

CESC is a fully integrated power utility, engaged in coal mining, power generation, and distribution, primarily serving the state of West Bengal.