Energy Development Company announced that it has received a letter of intent (LoI) from Bihar State Hydroelectric Power Corporation for Rs 49.6 million (approx).
The nature of work includes supply of main generating equipment/ auxiliaries etc., its erection, testing and commissioning and operation and maintenance of power house for one year.
The stock had outperformed the market over the past one month till Jul. 14, 2010, rising 7.63% compared with the Sensex`s 3.46% rise.
It underperformed the market in past one quarter, declining 34.02% as against 0.65% rise in the Sensex.
Total volume of shares traded on the bourses today was lower by 73.05% to 21,247 compared with 22-day average volume of 78,846.
On September 2, 2009, the board of directors approved final dividend of 10% or Rs 1 a share.
The company has an equity capital of Rs 27.50 million. Face value of share is at Rs 10.
The company has market capitalization of Rs 1.28 billion as on Jul. 14, 2010.
Shares of Energy Development Company gained Rs 0.95, or 2.04%, to trade at Rs 47.50. The total volume of shares traded was 21,247 at the BSE (10.12 a.m., Thursday)