BGR Energy hits the roof after Madras High Court reinstates Rs 4,442 crore work order
BGR Energy Systems was locked in 10% upper circuit at Rs 84.45 after the Madras High Court reinstated the order worth Rs 4,442.75 crore awarded to the company by Tamil Nadu Generation and Distribution Corporation (TANGEDCO).
In April 2021, TANGEDCO had canceled the letter of intent (LoI) regarding the award of contract to BGR Energy Systems for the execution of the 1X660 MW Supercritical Ennore Thermal Power Station (ETPS) Expansion Project. The company had moved the High Court of Madras challenging the said cancellation.
