Tuesday, January 20, 2015
Veer Energy and Infrastructure Ltd touched Rs.4.15, intra-day and is now trading at Rs.4.01 in the BSE. Yesterday, the percentage of Deliverable Quantity to Traded Quantity was whooping 78.15%. The total quantity traded in the BSE was 5,21,576 and in it the Deliverable Quantity was 4,07,611. Today, the volume of the shares traded in the BSE has already crossed one million (10 lakhs). Earlier there were media reports that, Shruti Power Projects Pvt Ltd, a wholly-owned subsidiary of Veer Energy & Infrastructure Ltd, was sanctioned a loan of Rs.52.56 crore by the Indian Renewable Energy Development Agency (IREDA). This loan was sanctioned for setting up a 12 MW wind farm project, worth Rs.75.60 crore, at Vinjalpur village, Khambhalia (Gujarat). The new project is expected to generate additional revenue of Rs.12 crore per annum to the company by way of power generation. Veer Energy & Infrastructure is also expected to take the benefit of generation based incentive (GBI) as per the policy declared by the central government. The scrip should be hitting the buyer freeze today, by the end of the day.
Anant Raj Ltd, the real estate giant and having huge land bank today might have completed the consolidation phase. The scrip should now move up and we can look forward for a target of Rs.55-57 in the short term. The company earns huge income from leasing.