KRBL trades jubilantly on plan to set up a 15 MW solar power plant in Madhya Pradesh

KRBL is currently trading at Rs. 72.35, up by 4.10 points or 6.01% from its previous closing of Rs. 68.25 on the BSE. The scrip opened at Rs. 68.35 and has touched a high and low of Rs. 74.00 and Rs. 67.50 respectively. So far 308853 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 74.00 on 06-June-2014 and a 52 week low of Rs. 19.40 on 31-Jul-2013. Last one week high and low of the scrip stood at Rs. 74.00 and Rs. 66.05 respectively. The current market cap of the company is Rs. 1607.71 crore. The promoters holding in the company stood at 58.65% while Institutions and Non-Institutions held 3.37% and 37.99% respectively. KRBL has decided to set up a 15 MW solar power plant at village Hatipura in Barod tehsil of Agar district in Madhya Pradesh. The supply of power generated by this plant to Madhya Pradesh will start after 18 months from December 2015. MP Power Management Company has entered into Power Purchase Agreement (PPA) with KRBL for supplying 15 MW of power to the state. KRBL manufactures products like rice bran oil, furfural and de-oiled cakes. The husk is utilized to extract furfural and the bran used to produce around 50 tonnes of rice bran. It has a total bran oil capacity of 42 MTPD and furfural of 10 MTPD.