Small-cap stock below ₹50: Green energy stock hits upper circuit after this profit rise update
Small-cap stock below ₹50: According to the latest market data, Gujarat Toolroom shares have been in an uptrend since the early morning session on Tuesday. Today, the share price opened upside at ₹24.12 apiece on BSE and touched an intraday high of ₹26.29 apiece on BSE.
The BSE-listed small-cap stock hit a 5 percent upper circuit while climbing to this intraday high. The stock witnessed strong buying after the company, as per its official announcement, declared its plans to increase annual profitability by ₹145.82 Crore.
This significant increase in profitability will be achieved through the Hybrid-Green Energy Power Plant project, demonstrating the company's strategic focus on sustainable energy and potential for future growth. The small-cap company informed us about the development through an exchange filing, highlighting the potential positive impact of the Hybrid-Green Energy Power Plant on the environment and society: "The Hybrid-Green Energy Power Plant is a state-of-the-art facility spanning 65 acres in Gujarat.
With an estimated investment of INR 5.72 billion ( ₹572.5 Crores), the plant is poised to generate 97.5 Megawatts of power per hour. The project comprises 60 acres of solar panel coverage, producing 1 Megawatt of energy per hour per acre, alongside 15 on-shore wind turbines, each generating 2.5 Megawatts per hour.
The power plant is expected to provide electricity to approximately 70,000 to 73,000 households upon completion, driving positive environmental and social impact." Also Read: Canara Bank vs Union Bank: Which low PE PSU stock to buy today? Explained The company's profit has been on a steady rise, reflecting its strong financial performance. This positive trend has also been a contributing factor
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