BF Utilities trades higher on the bourses

BF Utilities is currently trading at Rs. 657.30, up by 2.00 points or 0.31% from its previous closing of Rs. 655.30 on the BSE. The scrip opened at Rs. 657.00 and has touched a high and low of Rs. 666.00 and Rs. 646.10 respectively. So far 21603 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 682.10 on 10-Apr-2014 and a 52 week low of Rs. 118.10 on 07-Aug-2013. Last one week high and low of the scrip stood at Rs. 682.10 and Rs. 611.00 respectively. The current market cap of the company is Rs. 2481.35 crore. The promoters holding in the company stood at 66.06% while Institutions and Non-Institutions held 1.06% and 32.88% respectively. Global private equity companies JPMorgan and 3i Capital is reportedly expected to buy stake worth close to $200 million in BF Utilities. The promoters currently own a little over 66 per cent in the company. BF Utilities is executing the Rs 6,000-crore Bangalore-Mysore expressway for the past two decades. The company was in the process of restructuring NICE as well as its special purpose vehicle (SPV) subsidiary Nandi Economic Corridor Enterprise (NECE) to enhance shareholder value. BF Utilities is engaged in power generation through wind mill technology. The company was set up to satiate the power requirements of the Kalyani Group companies, which have business interests in areas of steel making, forging, machining, etc.