JSL Stainless Enters into Power Purchase Agreement with GRIDCO Ltd

JSL Stainless Ltd has announced that the Company has entered into a Power Purchase Agreement with GRIDCO Ltd. (formerly 'Grid Corporation of Orissa Ltd.' which is the nominated agency to act on behalf of Government of Orissa) on December 30, 2010 for sale of Power from the proposed Thermal Power Plant to be set up in the State of Orissa. The Company intents to set up the above thermal coal fired power plant with an installed capacity of 1320 MW at Luni, Dhenkanal in the State of Orissa through a new SPV namely 'JSL Energy Ltd'.

The stock was trading at Rs.111, up by Rs.2.70 or 2.49%. The stock hit an intraday high of Rs.113 and low of Rs.108.55.

The total traded quantity was 0.18 lakhs compared to 2 week average of 0.21 lakhs.

Source : Equity Bulls

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