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15-Feb2019

BGR Energy Systems shines on the bourses

BGR Energy Systems is currently trading at Rs. 50.10, up by 1.55 points or 3.19% from its previous closing of Rs. 48.55 on the BSE.

The scrip opened at Rs. 51.40 and has touched a high and low of Rs. 52.00 and Rs. 49.40 respectively. So far 9796 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 126.60 on 15-Feb-2018 and a 52 week low of Rs. 44.95 on 06-Feb-2019.

Last one week high and low of the scrip stood at Rs. 52.00 and Rs. 45.95 respectively. The current market cap of the company is Rs. 361.53 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 3.61% and 21.39% respectively.

BGR Energy Systems has received approval for sale of entire investment of the Company in its wholly owned subsidiary -- Sravanaa Properties. The board has approved the same in the meeting held on February 14, 2019. Sravanaa Properties owns landed property admeasuring about 6.18 acres situate at BEL Road, off mount poonamallee High Road, Nandambakkam, in Chennai.

The Board also authorized the Committee of Directors to explore opportunities and valuation of aforesaid investment for the purpose of sale transaction and do necessary acts for execution of the proposal. The proceeds of sale of investments will be utilized to shore up working capital or reduce debt of the Company.

BGR Energy Systems is a holding company. The company is engaged in construction and maintenance of power plants.


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