Shares of HG Infra Engineering climbed 8 per cent on Monday’s trade following the incorporation of six subsidiaries.
The stock traded at ₹1,841.70 on the NSE, higher by 7.65 per cent as of 12.10 pm. It also hit a 52-week high at ₹1,867.95 today.
As per the stock exchange filing, the company announced the incorporation of the following subsidiaries to carry out solar power business:
- H.G. Kapuriya Solar Project Private Limited
- H.G. Jetpur Solar Project Private Limited
- H.G. Bhada Solar Project Private Limited
- H.G. Surnana Solar Project Private Limited
- H.G. Peelwa Solar Project Private Limited
- H.G. Jakhan Solar Project Private Limited
The disclosure added that the initial subscription to each units share capital of ₹51,000 is divided into 5,100 equity shares of ₹10 each by HG Infra Engineering, and ₹49,000 divided into 4,900 equity shares of ₹10 each by H.G. Solar Projects Private Limited, a wholly-owned subsidiary of the company.