Veer Energy soars on plan to set up 12MW Wind Power Project at Gujarat

Veer Energy & Infrastructure is currently trading at Rs. 4.55, up by 0.23 points or 5.32% from its previous closing of Rs. 4.32 on the BSE. The scrip opened at Rs. 4.28 and has touched a high and low of Rs. 4.61 and Rs. 4.28 respectively. So far 54713 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 6.40 on 15-Apr-2014 and a 52 week low of Rs. 3.27 on 06-Aug-2013. Last one week high and low of the scrip stood at Rs. 4.70 and Rs. 3.52 respectively. The current market cap of the company is Rs. 32.01 crore. The promoters holding in the company stood at 35.51% while Institutions and Non-Institutions held 18.45% and 46.03% respectively. Veer Energy & Infrastructure has decided to set up 12MW Wind Power Project situated at Vinjalpur, Gujarat through its proposed subsidiary - Shruti Power Projects. The board of directors at its meeting held on May 12, 2014 has approved for the same. The board of directors has also decided to give Corporate Guarantee of Rs 52.56 crore to Indian Renewable Energy Development Agency (IREDA) for its Term Loan sanctioned to its proposed subsidiary - Shruti Power Projects. Veer Energy & Infrastructure was founded in 2006, it is an innovative energy & infrastructure company headquartered in Mumbai, its objective is to play a major role in responding to the growing problem of climate change attributed to greenhouse gas emissions.