PNN
Mumbai (Maharashtra) [India], July 9: Dynamic Services & Security Limited (DSSL), a leader in security services, digitalization, and renewable energy, experienced a significant rise in its share price following key strategic developments.
On 4th July, DSSL's shares surged by 5 per cent, reaching an upper circuit limit at Rs 263.60 per share. This boost followed the approval to utilize a 5000 MW solar park in Rajasthan and the announcement of a strategic acquisition. By 8th July, the share price further increased to Rs 276.75, marking a cumulative rise of approximately 10.24 per cent since the announcement. This trend underscores strong investor confidence and a positive market response to DSSL's strategic initiatives in the renewable energy sector.
Key Highlights:
* Strategic Acquisition: DSSL has signed a share purchase agreement to acquire a 49 per cent stake in NACOF NITHIN SAI GREEN ENERGY Pvt. Ltd. This acquisition aligns with DSSL's goals to expand its presence in the renewable energy sector, reinforcing its commitment to sustainable growth and enhancing its solar energy portfolio. The acquisition is subject to the fulfillment of various terms and conditions specified in the share purchase agreement.
* Solar Park Utilization: DSSL's subsidiary, Dynamic Solar Green Limited, has received authorization from NACOF OORJA Private Limited to utilize the full 5000 MW capacity of a solar park in Rajasthan, approved by the Rajasthan Renewable Energy Corporation Limited. Dynamic Solar Green Limited has been granted the rights to market this capacity and engage with industry bodies and various corporations to sign Power Purchase Agreements (PPAs) for the solar park's output. This initiative involves negotiating and finalizing long term PPAs with open access clients across India, ensuring long-term energy sustainability and efficiency.
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this authorization grants Dynamic Solar Green Limited full authority to facilitate the signing and execution of PPAs with multiple business houses, industry bodies, corporations, for supply of a total of 1000 MW of solar power and cumulative total of 5000 MW of solar power as part of the agreement.
Financial Performance: DSSL's shares reached an upper circuit limit of 5 per cent, trading at Rs 263.60 per equity share, up from the previous day's close of Rs 276.75. With a market capitalization of Rs 454.59 Crores, the stock has shown significant growth, delivering substantial returns over the past year.
Quote from Managing Director:
Jugal Kishore Bhagat, Managing Director of Dynamic Services & Security Limited, commented, "The strategic acquisition and solar park utilization approval are pivotal steps in our growth strategy. They reinforce our commitment to sustainability and position us strongly in the renewable energy market. We are focused on maximizing value for our stakeholders through these initiatives."
Dynamic Services & Security Limited:
Dynamic Services and Security Limited (DYNAMIC), established in 2016, has garnered recognition as a premier provider of Security Guarding and Manpower Solutions, boasting an impressive track record of serving esteemed government agencies including the Indian Army, Indian Navy, Indian Air Force, Indian Railways, and Webel Technology Limited.
Catering to a diverse clientele spanning Retail Field Players, Corporate Sector Manufacturing Units, Government Bodies, Educational Institutions, Banks & ATM Centers, Small & Medium-sized Industries, and individual users, the group is renowned for its commitment to excellence and innovation.
With a steadfast focus on talent development and strategic partnerships, the group leverages a workforce of over 10,000 employees comprising divisional managers, executives, supervisors, coordinators, assistants, and workmen across various departments such as marketing, service sites, administration, and accounts.
Driven by a culture of professionalism and financial stability, the group continues to invest in upgrading its resources and infrastructure to meet the evolving needs of its discerning clientele. The Company has also entered into the solar business and is currently executing a 720kw project in Kakdwip, West Bengal moving its focus into the green energy sector.
For more information please contact: -
Vikraam Sanass
ICON Media Solution
Mobile: 9904491500
Email: Vikram.iconpr@gmail.com
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