27 Jun, 12:14 - Indian

SENSEX 79125.62 (0.57)

Nifty 50 24005.35 (0.57)

Nifty Bank 53010.35 (0.26)

Nifty IT 35912.65 (1.43)

Nifty Midcap 100 55487.5 (0.44)

Nifty Next 50 71188.75 (-0.07)

Nifty Pharma 19542 (-0.02)

Nifty Smallcap 100 18312.1 (0.13)

27 Jun, 12:14 - Global

NIKKEI 225 39341.54 (-0.82)

HANG SENG 17709.3 (-2.10)

DOW JONES 39127.8 (0.04)

S&P 5477.9 (0.16)

Login/Signup

Live News

You are Here : Home > Markets > News > Live News

(20 Jun 2024, 10:17)

GMR Power hits the roof after arm enters into arrangement with BGSW

GMR Power and Urban Infra hit an upper circuit of 5% to Rs 94.40 after the firm’s subsidiary, GMR Smart Electricity Distribution (GSEDL) has entered into an arrangement with Bosch Global Software Technologies (BGSW) for the smart meter projects.

As a part of the arrangement, BGSW has executed definitive agreements with GSEDPL whereby it will be investing in 10% equity capital in each of the three project SPVs, with GSEDPL holding the balance 90% of the equity capital of these SPVs.

Earlier on 13 September 2023, the company received Letter of Award (LOA) by GMR Smart Electricity Distribution Private (GSEDPL) from Purvanchal Vidyut Vitran Nigam (PuVNL) and Dakshinanchal Vidyut Vitran Nigam to install, integrate and maintain in aggregate 75.69 lakh smart meters.

GSEDPL subsequently incorporated three special purpose vehicles (SPVs) for the implementation of the said smart metering projects.

GMR Power and Urban Infra a subsidiary of GMR Enterprises (GEPL) holds expertise in the sectors of Energy, Urban Infrastructure and ...

More News
More Company News