BGR Energy Gains Over 13 Per Cent On Deal With Hitachi, Japan

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Shares of BGR Energy rose over 13 per cent on Bombay Stock Exchange (BSE) after the company announced that it has executed agreement with Hitachi, Japan and Hitachi Power Europe GmbH (HPE), Germany to settle their disputes.

BGR Energy Gains Over 13 Per Cent On Deal With Hitachi, Japan
BGR Energy Systems: Quotes, News
BSE 112.70BSE Quote1.4 (1.24%)
NSE 112.45NSE Quote1.25 (1.11%)
"The agreement provides for certain payments to be made by HTC to the company in a phased manner over a period of time on achievement of number of milestones/events/transactions so as to realise the objectives mentioned hereinabove," BGR Energy said in a press release.

Following the development, shares of the company gained 13.61 per cent to Rs 120.20 a piece on Bombay Stock Exchange.

Shares of BGR surged 13.87 per cent to Rs 120.70 a piece on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 25,576.39, up 139.42 points, or 0.55 per cent at 11.00 hours.

Read more about: bgr energy systems
Story first published: Tuesday, May 3, 2016, 12:50 [IST]
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