Albert David Limited approves investment for captive power project

The Board of Directors of Albert David Limited at their meeting held today have approved investment upto INR 61.25 Lacs in equity shares of Sunsure Solarpark Five Private Limited for solar power captive consumption as required under the provisions of the Electricity Act, subject to applicable laws.

The objectives of the above acquisition is to reduce the power cost of the Company's Ghaziabad (U.P.) Plant, by way of shifting towards solar power energy which is cost effective and environment friendly. Thus, as per the Electricity Act, the Company, being captive user, needs to make investment in Sunsure Solarpark Five Private Limited.

Shares of Albert David Limited was last trading in BSE at Rs. 791.45 as compared to the previous close of Rs. 799.35. The total number of shares traded during the day was 1272 in over 200 trades.

The stock hit an intraday high of Rs. 806.00 and intraday low of 790.15. The net turnover during the day was Rs. 1012072.00.

Source : Equity Bulls

Keywords

AlbertDavid INE155C01010 Investment CaptivePowerProject