Varroc Engineering along with its subsidiaries viz. Varroc Polymers and Durovalves India has entered into Power Purchase Agreement with AMP Energy C&I Twenty One, AMP Energy C&I Twenty and AMP Energy C&I Twenty Two (hereinafter referred to as “SPVs”) respectively, for acquisition of 26% stake in the said SPVs for establishing Renewable Power Plants in Maharashtra having combined captive capacity of 33.10 MWp 22.01 MWac, under Captive Power Scheme.
The Board of Varroc Engineering will meet on 23 May 2023 to consider raising of Funds by way of Issuance of SecuredUnsecured Redeemable Non-Convertible Debentures on Private Placement basis, in one or more tranches series.
EIH was also in strong momentum, rising nearly 12 percent to Rs 201, the highest closing level since April 2, 2019. The stock has seen formation of robust bullish candle, which engulfed both previous red candles, and the Bollinger Band expanded on both the side and the closing was above the upper band of Bollinger Band. The volume was also strong.