Reports suggest that Nakoda Textiles to venture into wind power

There are reports that Nakoda Textiles is going to venture into wind power. The company is going to invest Rs 40.5 crore for the wind power venture and will finance its investment through internal accruals and term loans. The wind power project will have aggregate capacity of 6.75 MW in power plants. The company has signed an agreement with TN government.

All power generated will be supplied to state electricity board. The power will be supplied at rate of Rs 3.39/unit. The company is eligible for carbon credits at rate of 50 p/unit. The company is proposed to invest Rs 300 crore to set up project in Gujarat, Maharashtra & TN in next 2-3 years.

Nakoda Textiles touched a 52 week high of Rs 64.60 in today’s trade. The stock touched an intra day high of Rs 64.60 and an intra day low of Rs 53.50 and at 15:10 PM, the share was quoting at Rs 63.55, up Rs 9.40, or 17.36%, trading with volumes of 241,838 shares, compared to its 5-day average of 60,403 shares, an increase of 300.37%.

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