“Our Board of Directors, based on the recommendations of the Board at its last meeting held on December 23, 2022, has decided to take a step forward to consider the potential for maximizing our existing assets by exploring hybrids. We are pleased to inform you that we have discussed various options: we offer solutions and mix solar and wind farms on existing sites,” the company said in its BSE filing.
The Board also took into account updates on progress on rights issues. We also discussed how to increase value for stakeholders.
The company also outlined its business outlook to expand renewable energy to 1 GW over the next two to three years. The Board further confirmed the appointment of consultants for a comprehensive study including feasibility, funding and launch.
At 11:00 am, the scrip was trading at Rs 11.66, 0.3% higher than the previous day’s close of Rs 11.62. The stock has risen about 20% over the past month, but is down about 43% over the past year.
“Orient
reported strong net profit growth of 277% sequentially in the September quarter. The company aims to expand its renewable energy up to 1 GW in the next two to three years, and the government’s focus on green and renewable energy will be a major driver of this segment in the coming years. We offer a great opportunity to become a player. said Ravi Singh, Vice President and Head of Research at Share India.
“In a technical setting, the momentum indicator and oscillator on the daily chart suggest a short-term target of the 14th level, with the 16th level being the most likely if the trend persists beyond the 14th,” he said. added.
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