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Ravindra Energy zooms on securing ‘Empanelment and Rate Contract’

Ravindra Energy is currently trading at Rs. 38.00, up by 3.00 points or 8.57% from its previous closing of Rs. 35.00 on the BSE.

The scrip opened at Rs. 38.00 and has touched a high and low of Rs. 38.00 and Rs. 38.00 respectively. So far 500 shares were traded on the counter.

The BSE group ‘X’ stock of face value Rs. 10 has touched a 52 week high of Rs. 50.90 on 19-Nov-2018 and a 52 week low of Rs. 23.10 on 25-Jul-2019.

Last one week high and low of the scrip stood at Rs. 39.95 and Rs. 34.95 respectively. The current market cap of the company is Rs. 454.59 crore.

The promoters holding in the company stood at 74.50%, while Non-Institutions held 25.50%.

Ravindra Energy has bagged ‘Empanelment and Rate Contract’ from Chief Engineer, Maharashtra State Electricity Distribution Company, Mumbai, Mahavitaran. The total amount of revenue that would be generated from the above projects aggregates to Rs 565.98 crore.

The contract is for design, manufacture, supply, transport, installation, testing and commissioning of Off-Grid DC Solar Photovoltaic Water Pumping Systems at the project sites of identified farmers in the State of Maharashtra with comprehensive maintenance contract for 5 years on a single point responsibility, ‘Tumkey Contract’ under the Mukhyamantri Sour Krishi Pump yojna Scheme for a quantity of 30,600 pumps.

Ravindra Energy engages in the trading of coal primarily in India.

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