Aurobindo Pharma Limited inks agreement to acquire 26% ownerships in two solar power generating companies

Aurobindo Pharma Limited has entered into binding agreements to invest Rs.5.382 Crores each in NVNR (Ramannapet I) Power Plant Private Limited and NVNR (Ramannapet II) Power Plant Private Limited, Hyderabad based solar power generating companies, aggregating to Rs. 10.764 Crores (Rupees ten crores seventy six lakhs forty thousand) by subscribing to additional equity shares and/or other securities of the said solar power generating companies to avail the benefit of captive consumption of Solar Power.

After making the said investments, the Company will be holding 26% of the share capital in each of the aforesaid solar power generating companies.

Shares of AUROBINDO PHARMA LTD. was last trading in BSE at Rs.856 as compared to the previous close of Rs. 858.1. The total number of shares traded during the day was 178712 in over 6550 trades.

The stock hit an intraday high of Rs. 862.4 and intraday low of 837.5. The net turnover during the day was Rs. 151829418.

Source : Equity Bulls

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