Shares of CESC rise on signing binding framework agreement for 1500 MW wind capacity

The share has delivered over 90 per cent return in one year and over 79 per cent return in the last six months.

About Agreement

CESC Limited has signed a major agreement with Inox Wind Ltd for the installation of 1,500 MW of wind power capacity over the next 3-4 years. This marks a significant step towards their green ambitions and reinforces their commitment to renewable energy.

The collaboration will involve a mix of turnkey solutions, limited engineering, procurement, and construction (EPC) services, and operations and maintenance (O&M) support. This partnership signals CESC's dedication to a clean energy future and is expected to contribute substantially to India's renewable energy goals.

Share Price Movement

The share of CESC Ltd trading at Rs 140.65 up by 2.05 points or 1.48 per cent as compared to the previous day's closing of Rs 138.60. Today, the share opened at Rs 141.45 and touched intraday highs and lows of Rs 143.25 and Rs 139.85 respectively. The share has a 52-week high and 52-week low of Rs 149.90 and Rs 62.25 respectively. The company has a market capitalisation of Rs 18.531.47 crore. The share has delivered over 90 per cent return in 1 year and over 79 per cent return in the last six months.

About the company

CESC, India's first fully integrated electrical utility company, has been generating and distributing power in Kolkata and Howrah since 1899. The company owns and operates three thermal power plants and the Transmission & Distribution System, providing electricity to domestic, industrial, and commercial users. CESC has also ventured into renewable sources, launching projects in Gujarat Solar, Hydro Power Venture, and Wind Power Operation.

It also installed two thermal power plants, Chandrapur Thermal Plant and Haldia Thermal Plant. CESC has introduced value-added online services to meet consumer needs, allowing work to be done from consumers' premises. CESC operates electricity distribution across 567 square kilometres in Kolkata, Howrah, Hooghly, North and South 24 Parganas, West Bengal, and supplies safe, cost-effective, and reliable electricity to millions of customers.

Disclaimer: The article is for informational purposes only and not an investment advice.