This is an S Kumars Group company in which they have 75% stake. They have been setting up hydro based power projects with a total capacity of 400 megawatt with 10 units of 40 megawatt each.
In fact, three-four years back they ran into trouble, where they brought all the subsidiary of the various power projects executing company under this company with this company as an investment arm for all the ten units of power projects which are being setup.
The power project will go operational with one unit each starting from December 2010 as indicated by the management. I hope maybe in six months time, they will be able to complete the entire 400 megawatt. The project is laid on the perennial river where they will be having the advantage of running the power plant maybe to the extent of about eight-10 months in a year.
The present marketcap of Rs 400 crore with a promoters stake of 75% and even the HNIs are holding stake of about 13-14% in the company with very low floor and even the marketcap of Rs 100 crore, It is quite low when you see 400 megawatt of hydropower projects getting completed in the next six months time. This can give good returns in the next one year and I wouldn't be surprised if it doubles in a year's time.
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