Oil India rose 0.68% to Rs 569.15 at 9:35 IST on BSE after the company said that it successfully completed the installation and commissioning of its 5 megawatts solar power plant at Village Raghwa, Ramgarh, Rajasthan.
The company clarified after market hours yesterday, 29 December 2014 with respect to news titled "Oil India's Rajasthan solar plant ready."
Meanwhile, the S&P BSE Sensex was up 15.46 points or 0.06% at 27,411.19.
On BSE, so far 678 shares were traded in the counter as against average daily volume of 31,599 shares in the past one quarter.
The stock hit a high of Rs 569 and a low of Rs 567 so far during the day. The stock hit a record high of Rs 668.80 on 9 September 2014. The stock hit a 52-week low of Rs 439 on 6 February 2014.
The stock had underperformed the market over the past one month till 29 December 2014, declining 4.65% compared with Sensex's 4.52% fall. The scrip had also underperformed the market in past one quarter, falling 6.41% as against Sensex's 3% rise.
The large-cap PSU oil explorer has equity capital of Rs 601.13 crore. Face value per share is Rs 10.
Oil India said the plant was setup at a total cost of Rs 41.49 crore with an operations and maintenance (O&M) contract for 25 years for an amount of Rs 20.63 crore. The plant consisting of 20408 solar modules each having a capacity of 245 watts, has been contributing towards the growing energy needs of our country since its commissioning. An over head transmission line of 11.49 kilometres has been constructed to feed in the generated power to the DISCOM grid.
Oil India's net profit fell 32.7% to Rs 608.33 crore on 17.5% decline in total income to Rs 2622.26 crore in Q2 September 2014 over Q2 September 2013.
The government of India holds 67.64% stake in the firm as at 30 September 2014.
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