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BGR Energy’s share rise up to five percent after acquiring thermal power contract

The Stock Jumped 4.58 Per Cent To End At Rs 123.20 On BSE. During The Day, It Gained 8.91 Per Cent To Rs 128.30.

PTI | Updated on: 01 Nov 2016, 06:19:50 PM
Representative Image (itproportal.com)

New Delhi:

BGR Energy’s shares jumped up to five percent after the engineering and construction major acquired a thermal power contract worth Rs 2,600 crore.

The stock jumped 4.58 per cent to end at Rs 123.20 on BSE. During the day, it gained 8.91 per cent to Rs 128.30.

At NSE, shares of the company soared 5 per cent to close at Rs 123.45.

In a BSE filing, BGR Energy Systems said, "The company has received a Letter of Intent from TANGEDCO (Tamil Nadu Generation and Distribution Corporation Ltd) or execution of balance of plant equipment/systems including civil works for 1 x 800MW - North Chennai Supercritical Thermal Power Project, Stage - III, in the premises of existing NCTPS at Ennore and Puzhudhivakkam Village, Ponneri Taluk, Tiruvallur District, Tamil Nadu on EPC basis."

"The total lump sum price of the contract is Rs 2,600.02 crore.The contract completion period is 36 months," it added.

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First Published : 01 Nov 2016, 06:14:00 PM

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