Moser Baer up 5%, Railway to use solar energy at stations

Written By Unknown on Selasa, 08 Juli 2014 | 16.03

Shares of Moser Baer India (MBIL) are locked at 5 percent upper circuit at Rs 12.32 on the Bombay Stock Exchange after Railway Minister Sadananda Gowda said the railway would use station rooftops to harness solar energy.

Moneycontrol Bureau

Shares of  Moser Baer India (MBIL) are locked at 5 percent upper circuit at Rs 12.32 on the Bombay Stock Exchange after Railway Minister Sadananda Gowda has said the railway will use station rooftops to harness solar energy.

Moser Baer Solar and Moser Baer Photo Voltaic, the two subsidiaries of MBIL, are involved in solar business globally including India. Company's total capacity at current efficiency levels is of 250MW.

The company says its solar panels carry a warranty of 25 years, while some of its optical media products have a life span of 50-200 years.

Railway Minister Sadananda Gowda proposed foreign direct investment (FDI) in the Railways, except operations, and sought Cabinet approval for the same in his maiden Budget  today.

"I seek Cabinet approval for foreign direct investment in Railways except in railway operations. The government will also look to fund future projects, including high-speed trains, via the public-private-partnership mode. We also need to leverage railway PSU resources. We will also look for ways to monetize Railways land," he said.

Market capitalisation of the company currently stands at Rs 256.42 crore.

Posted by Sunil Shankar Matkar


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