{"id":111137,"date":"2023-10-04T15:02:49","date_gmt":"2023-10-04T09:32:49","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=111137"},"modified":"2023-10-04T15:56:19","modified_gmt":"2023-10-04T10:26:19","slug":"midcap-stock-jumps-up-to-2-5-after-subsidiary-enters-into-an-agreement-for-establishing-power-plants","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/midcap-stock-jumps-up-to-2-5-after-subsidiary-enters-into-an-agreement-for-establishing-power-plants\/","title":{"rendered":"Midcap stock jumps up to 2.5% after subsidiary enters into an agreement for establishing power plants"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1988784089\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>On Wednesday this mid-cap stock jumps more than 2.5% after the company\u2019s subsidiary entered into an agreement. The stock has given 96% returns in six months and 51% returns in one year. Currently, the company shares are trading 4.3% below the 52-week high and above the 50-day and 200-day moving averages.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-426329896\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><h4 class=\"wp-block-heading\" id=\"h-varroc-engineering-ltd\"><strong>Varroc Engineering Ltd<\/strong><\/h4><p>The company belongs to a mid-cap category with a market capitalisation of Rs. 7,653 Cr. On Wednesday at 1:30 p.m., shares were trading 1.5% down at Rs. 497.60 on BSE.<\/p><p>According to the company filing, The company\u2019s material subsidiary Varroc Polymers Limited (VPL) has entered into a Power Purchase Agreement with AMP Energy C&amp;I Six Pvt Ltd and AMP Energy C&amp;I Five Pvt Ltd (referred to as SPVs) respectively, for establishing Renewable Power Plants in Karnataka and Tamilnadu having a capacity of 30 MWp and 21 MWp respectively, under the Captive Power Scheme.<\/p><p>VPL is also in the process of a 1% stake in AMP Energy C&amp;I Six for Rs. 40 lakhs and a 3% stake in AMP Energy C&amp;I Five for Rs. 80 lakhs.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2661722502\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The company\u2019s revenue grew by 13% from Rs. 934.42 Cr in Q1 FY23 to Rs. 1,056.6 Cr in Q1 FY24 and the company reported a net loss of Rs. 13.52 Cr in Q1 FY24 against a loss of Rs. 5.88 Cr in Q1 FY23.<\/p><p>As per the latest shareholding information, Promoters hold 75%, FIIs hold 5.07%, DIIs hold 12.21% and the public hold a 7.72% stake in the company.<\/p><p>Varroc Engineering Limited is a manufacturer and supplier of automobile components. It designs, develops and manufactures starter and wiper motors, alternators, switches, lamps, digital instruments, clusters, instrumental panels, door trims, mirror assemblies, and gears.<\/p><p><strong>Written by Sheshadri N<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3951514986\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>On Wednesday this mid-cap stock jumps more than 2.5% after the company\u2019s subsidiary entered into an agreement. The stock has given 96% returns in six months and 51% returns in one year. Currently, the company shares are trading 4.3% below the 52-week high and above the 50-day and 200-day moving averages. Varroc Engineering Ltd The [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":18625,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-111137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Midcap stock jumps up to 2.5% after subsidiary enters into an agreement for establishing power plants - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/midcap-stock-jumps-up-to-2-5-after-subsidiary-enters-into-an-agreement-for-establishing-power-plants\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Midcap stock jumps up to 2.5% after subsidiary enters into an agreement for establishing power plants\" \/>\n<meta property=\"og:description\" content=\"On Wednesday this mid-cap stock jumps more than 2.5% after the company\u2019s subsidiary entered into an agreement. The stock has given 96% returns in six months and 51% returns in one year. Currently, the company shares are trading 4.3% below the 52-week high and above the 50-day and 200-day moving averages. Varroc Engineering Ltd The [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/midcap-stock-jumps-up-to-2-5-after-subsidiary-enters-into-an-agreement-for-establishing-power-plants\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-04T09:32:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-04T10:26:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/Renewable-energy-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/midcap-stock-jumps-up-to-2-5-after-subsidiary-enters-into-an-agreement-for-establishing-power-plants\/\",\"url\":\"https:\/\/tradebrains.in\/features\/midcap-stock-jumps-up-to-2-5-after-subsidiary-enters-into-an-agreement-for-establishing-power-plants\/\",\"name\":\"Midcap stock jumps up to 2.5% after subsidiary enters into an agreement for establishing power plants - 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