Nava Bharat Ventures up 2%, achieves provisional acceptance of 300 MW power plant

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Shares of Nava Bharat Ventures gained more than 2 percent intraday Friday as it has achieved provisional acceptance of its 300 MW power plant.

The company's 300 MW power plant of Maamba Collieries, the step down subsidiary of the company, has been in operation and has now achieved the provisional acceptance under the EPC contract, company said in press release.

Following the capitalization of the 300 MW power plant upon provisional acceptance, its commercial operations will be consolidated in the company's financial henceforth.

The 45th annual general meeting (AGM) of the company will be held on August 09, 2017.

At 09:48 hrs Nava Bharat Ventures was quoting at Rs 137, up Rs 2.00, or 1.48 percent on the BSE.

Posted by Rakesh Patil