BF Utilities surges on plan to raise Rs 500 crore via equity route

04 Jun 2014 Evaluate

BF Utilities is currently trading at Rs. 713.65, up by 13.80 points or 1.97% from its previous closing of Rs. 699.85 on the BSE.

The scrip opened at Rs. 703.10 and has touched a high and low of Rs. 713.80 and Rs. 703.10 respectively. So far 9413 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 754.90 on 22-May-2014 and a 52 week low of Rs. 118.10 on 07-Aug-2013.

Last one week high and low of the scrip stood at Rs. 729.40 and Rs. 677.55 respectively. The current market cap of the company is Rs. 2670.26 crore.

The promoters holding in the company stood at 65.64% while Institutions and Non-Institutions held 0.86% and 33.50% respectively.

BF Utilities is set to raise Rs 500 crore through the equity route. The company is looking to raise the amount to fund the completion of the first phase of the expressway, which has been in the works for nearly past two decades due to scores of land acquisition problems.

In addition to completion of the 12 kilometres of the expressway under the first phase, the company is also expected to deploy the fresh resources to start the development of the township along the expressway, as and when the Courts clear the compensation play to land holders.

BF Utilities is engaged in power generation through wind mill technology. The company was set up to satiate the power requirements of the Kalyani Group companies, which have business interests in areas of steel making, forging, machining, etc.

BF Utilities Share Price

974.90 -27.10 (-2.70%)
23-Dec-2024 14:00 View Price Chart
Peers
Company Name CMP
NTPC 331.60
Tata Power 398.10
Power Grid Corp 312.65
Adani Power 503.15
Torrent Power 1535.35
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.