a Hyderabad-based internet infrastructure company announced on Wednesday that the company has acquires 51% stake in Sri Venkateswara Green Power Projects Limited.

Sri Venkateswara Green Power Projects is involved in developing and implementing a viable and environmentally sustainable 12 MW renewable energy power plant.

The proposed state-of-the-art power plant will convert Greater Hyderabad Municipal Corporation's (GHMC) waste into energy and is being set up in the south zone of the city located about 50 km from the Telangana State Secretariat. The project will be operational in about 18 months time.

The project is commercially viable as the power purchase agreement with Telangana power distribution company specifies a tariff of Rs 7.40 per unit and is on a must buy basis and also stipulates a minimum guarantee price, government had given assurance of 700 tons waste per day delivery at the plant site.

This project received significance has it avoids landfills which pollute land and subterranean water for hundreds of years to make the city of Hyderabad pollution free city.

Stock View:

Nettlinx Ltd is currently trading at Rs 107.5, down by Rs 1.3 or 1.19% from its previous closing of Rs 108.8 on the BSE.

The scrip opened at Rs 115 and has touched a high and low of Rs 115 and Rs 102.95 respectively. So far 3020(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 124.68 crore.

The BSE group 'XC' stock of face value Rs 10 has touched a 52 week high of Rs 156 on 27-Oct-2016 and a 52 week low of Rs 86.55 on 28-Jun-2017. Last one week high and low of the scrip stood at Rs 129 and Rs 97 respectively.

The promoters holding in the company stood at 58.41 % while Institutions and Non-Institutions held 0.01 % and 41.58 % respectively.

The stock is currently trading above its 200 DMA.

here is company details.

 

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