Swelect Energy Systems strengthens on commencing 15 MW SPV Solar Power Park

Swelect Energy Systems is currently trading at Rs. 256.00, up by 11.30 points or 4.62 % from its previous closing of Rs. 244.70 on the BSE. The scrip opened at Rs. 241.50 and has touched a high and low of Rs. 256.00 and Rs. 241.50 respectively. So far 5214 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 251.95 on 07-Apr-2014 and a 52 week low of Rs. 126.10 on 24-Jul-2013. Last one week high and low of the scrip stood at Rs. 251.95 and Rs. 235.00 respectively. The current market cap of the company is Rs. 255.17 crore. The promoters holding in the company stood at 65.29 % while Institutions and Non-Institutions held 0.66 % and 34.06 % respectively. Swelect Energy Systems has successfully completed design, installation and commissioning of its 15 MW SPV Solar Park on April 11, 2014 located at Monjanur Village, Aravakurichi Taluka, Karur District in state of Tamil Nadu. The park is generating power to its near full capacity and Evacuation of Power made through a 33 KV dedicated feeder to TANGEDCO Sub-Station and further stepped - up to 110 KV in to the grid. The above SPV Park has been commissioned in two stages - 12 MW by March 28, 2014 and 3 MW by April 11, 2014. The final overall cost of the SPV Park with all the other remaining civil works will cost approximately Rs 110 crore. Swelect Energy was formerly Numeric Power Systems, a major player in the Uninterruptible Power Supply business. Last year, Numeric Power sold its UPS business and decided to concentrate on solar power and was renamed Swelect Energy.