Gayatri Projects has soared 13.5% to Rs 77.95 after the company said its arm has signed power purchase agreement (PPA) with Andhra Pradesh government for its 1,320 MW power plant in the state.
“The Company's subsidiary TPCIL has executed a PPA with Andhra Pradesh Power Distribution Companies, wholly-owned by the government of Andhra Pradesh, for supply of 500 MW of competitive power to the Central, Eastern, Southern and Northern Power Distribution Companies of Andhra Pradesh for a period of 25 years,” Gayatri Projects, the company engaged in construction and engineering business, said in BSE filing.
The plant, located in Krishnapatnam, will assist in mitigating power shortage in the Andhra Pradesh, when it commences operation, it added.
The stock opened at Rs 69.85 and touched high of Rs 78.55 on NSE. A combined 17,508 shares have changed hands on the counter till 0957 hours on NSE and BSE.
“The Company's subsidiary TPCIL has executed a PPA with Andhra Pradesh Power Distribution Companies, wholly-owned by the government of Andhra Pradesh, for supply of 500 MW of competitive power to the Central, Eastern, Southern and Northern Power Distribution Companies of Andhra Pradesh for a period of 25 years,” Gayatri Projects, the company engaged in construction and engineering business, said in BSE filing.
The plant, located in Krishnapatnam, will assist in mitigating power shortage in the Andhra Pradesh, when it commences operation, it added.
The stock opened at Rs 69.85 and touched high of Rs 78.55 on NSE. A combined 17,508 shares have changed hands on the counter till 0957 hours on NSE and BSE.
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