BGR Energy Systems

Capital markets regulator Sebi on Tuesday imposed a penalty of Rs 9 lakh on BGR Energy Systems for disclosure lapses to the stock exchanges and flouting other market norms. The order came after the Securities and Exchange Board of India (Sebi) conducted an examination in the matter of BGR Energy Systems Ltd (BGR) listed on the BSE and NSE. The investigation was to ascertain whether there was any violation of the provisions of LODR (Listing Obligations And Disclosure Requirements) regulations by BGR Energy Systems. During the examination, the regulator observed that BGR had allegedly failed to comply with the provisions of disclosure norms and various Sebi rules. Thereafter, the market watchdog initiated adjudication proceedings against the noticee (BGR Energy Systems) and issued a show-cause notice to the company on August 2, 2024. The regulator observed that BGR has admittedly uploaded the audited financial statements of its subsidiary companies viz, BGR Boilers Pvt Ltd and BGR .

The fall in BGR Energy Systems stock price came after the company announced that its contract has been terminated by Jharkhand Urja Sancharan Nigam Limited (JUSNL).

The uptick in stock price came after BGR Energy announced that it plans to raise up to Rs 1,000 crore via rights issue of equity shares

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Shares of BGR Energy Systems were locked in the 20-per cent lower circuit at Rs 60.95 on the National Stock Exchange (NSE) on Tuesday

BGR Energy Systems' loss widened to Rs 691.38 crore in the December quarter compared to the year-ago period mainly due to higher expenses. The consolidated net loss of the company was Rs 59.22 crore in the quarter ended on December 31, 2022, a BSE filing showed. Total expenses rose to Rs 1,031.38 crore in the quarter from Rs 334.29 crore in the same period of the last fiscal. Total income rose to Rs 472.68 crore in the quarter from Rs 258.02 crore in the same period a year ago. In another filing, the company stated that P R Easwar Kumar President & Chief Financial Officer has resigned on February 8, 2024. S Krishna Kumar President & Company Secretary/Compliance Officer has also resigned on February 9, 2024.

The consolidated net loss of the company stood at Rs 64.08 crore in the year-ago period, BGR Energy Systems said in a regulatory filing

The company on Thursday posted a consolidated net profit due to higher revenues

BGR Energy Systems on Wednesday reported widening of its consolidated net loss by multifold to Rs 122.32 crore for the March 2021 quarter

The company was awarded a contract worth of Rs 4,443 crore by Tamil Nadu Generation and Distribution Corporation for execution of 1x660 MW Supercritical Ennore Thermal Power Station Expansion Project.

The stock surged 18% to Rs 108 on the BSE after the company said it has secured two orders worth of Rs 4.31 billion from Nuclear Power Corporation of India for Kudankulam Nuclear Power projects -3&4

The stock had outperformed the market over the past 30 days till 30 October 2016

The stock moved higher by 13% to Rs 134 on the NSE in noon deal.

The stock rallied 17% to Rs 124 on the BSE in the early morning trade.