TVG Sraac hits new high

TVG Sraac, which had closed yesterday at Rs.92.95, opened itself at its 52-week high at Rs.111.50 on the back of an over 8x surge in volume.

The stock hit a high after it received an in-principle nod from its Board for a 15MW capacity addition to the solar power project. The approval is in addition to the previous approval accorded by the board for 25MW solar power. Further, out of the previously approved 25MW, the company has successfully commissioned 10MW solar power so far.

That apart, the company also said that it has prepaid term loans up to Rs 72 crore to banks.

The company, formerly known as Sree Rayalaseema Alkalies and Allied Chemicals is the flagship company of the TGV Group It makes Chlor-Alkali products and also manufactures Castor Derivatives and Fatty Acids, besides operating a commercial Power Project of 28MW.