Textile stock jumps 14% as board approves share transfer to acquire stake in SPV, check details

Textile stock jumps 14% as board approves share transfer to acquire stake in SPV, check details

Shares of one of India’s largest denim manufacturers, Nandan Denim, are in action as the company has informed exchanges that its board has approved a share transfer cum shareholders’ agreement to acquire a stake in a special purpose vehicle (SPV) focused on hybrid wind and solar power. Post this update, the stock started the trading session in the green at Rs 2.72 against the previous close of Rs 2.69 on the BSE. The counter jumped further amid …

Nandan Denim to Buy 6.1% Stake in Renewable SPV for Green Power

Nandan Denim Limited, a Gujarat-based textile manufacturer, has approved an agreement to acquire a 6.1% equity stake in Opera Vayu (Narmada) Private Limited, a special purpose vehicle in the wind and solar power sector, for about  Rs. 4 crore (US $429,000).  This move reflects the growing adoption of renewable energy projects by textile companies, as […] The post Nandan Denim to Buy 6.1% Stake in Renewable SPV for Green Power appeared first on A…