Sangam Renewables touches roof on the BSE

Waaree Renewable Technologies Ltd. | Power Generation/Distribution | Power | BSE: 534618 | NSE:

25 Jun 2018 Evaluate

Sangam Renewables is currently trading at upper circuit limit of Rs. 18.25, up by 0.85 points or 4.89% from its previous closing of Rs. 17.40 on the BSE.

The scrip opened at Rs. 18.25 and has touched a high and low of Rs. 18.25 and Rs. 18.25 respectively. So far 596 shares were traded on the counter.

The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 62.80 on 12-Jan-2018 and a 52 week low of Rs. 17.15 on 22-Jun-2018.

Last one week high and low of the scrip stood at Rs. 20.00 and Rs. 17.15 respectively. The current market cap of the company is Rs. 17.43 crore.

The promoters holding in the company stood at 38.56%, while Institutions and Non-Institutions held 2.09% and 59.35% respectively.

Sangam Renewables has received an approval for the divestment of 49% stake in Waacox Energy (A wholly owned subsidiary). The Board of Directors of the company at their meeting held on June 22, 2018, approved the same.

The board also considered and approved in principal to have financial and strategic arrangement with Aditya Birla Renewables for its 154 MW Solar project to be set up for Mahagenco. Further, they have given approval to set up a subsidiary as SPV and invest up to 76% of the equity capital of that company.

Sangam Renewables is engaged in the business of providing diversified financial services with primary focus in assisting small and medium enterprises (SMEs) in corporate and non corporate sector in their financial planning and arranging funds for them.