Now Reading: Rhetam TMT rises to 52-week high after solar project update
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Rhetam TMT rises to 52-week high after solar project update
Rhetam TMT shares rose 3% to a 52-week high of Rs 33.81 on the NSE on Friday, after the company said its 1 MW AC captive ground-mounted solar project had completed testing…
The Story in Brief
Rhetam TMT shares rose 3% to a 52-week high of Rs 33.81 on the NSE on Friday, after the company said its 1 MW AC captive ground-mounted solar project had completed testing and commissioning. The stock opened at Rs 33.46, against Thursday’s close of Rs 32.85.
The company said commercial power generation should begin shortly, subject to any remaining operational formalities. It added that power costs account for nearly 20% of its total cost structure, so captive generation could lower energy expenses and improve operating efficiency. The stock has gained 9% in a week, 23% in a month and 35.66% in a year, according to Livemint.
The Indian Opinion
The easy story is that a small solar project will transform the company, while the opposing claim is that the announcement means nothing. Both go beyond the available facts. The project is ready, but commercial generation has not yet begun, and the filing gives no savings estimate or profit forecast. Investors should judge the claim through actual power costs and margins after operations start, not the day’s share-price move. The first useful test is whether the company reports measurable savings in its next results.
Source: livemint.com
This story was synthesised by AI from the source linked above.
