Hercules Hoists, which over a 2-week average showed a volume of 10k shares, today alone has already clocked in 68k trades. The stock price rose 2.25% to hit an intraday high at Rs.132.90, not too far from its 52-week high of Rs.138.20.
The Board of the company, yesterday, approved the proposal from Hindustan Unilever Limited (HUL), Nashik for purchase of three windmills of 1.25 MW capacity each situated at Khori, Maharashtra.
These windmills are part of business segment “Windmill” and total contribution of revenue from these windmills are only 1% of total operating revenue of the company.
The company did not disclose the financial details of this sale.