Share news: The company has approved a big acquisition - the stock will be in focus on Monday

News Topical, Digital Desk : Hinduja Group company GOCL Corporation Limited (GOCL) informed after the stock market closed on Friday (August 29) that the company's board of directors has given in-principle approval to the acquisition of thermal power operations of Hinduja National Power Corporation Limited (HNPCL). The company said that after the monetization of land located at Kukatpalli in Hyderabad and the sale of its subsidiary is almost complete, it now has surplus liquidity and a strong asset base. In such a situation, the company is planning to enter the energy sector as part of the next phase of transformation.

HNPCL operates a 1,040 MW (2x520 MW) coal-based thermal power project near Visakhapatnam (Andhra Pradesh), which also has the possibility of further capacity expansion. In the financial year 2023-24, HNPCL's income was Rs 3573.36 crore, the company's profit was Rs 996.97 crore and the company's net worth is Rs 3935.42 crore. 

Share performance Shares of Gocl Corporation closed at Rs 355.95 on Friday, down 1.32 per cent. The company's stock has seen a decline of 25.34 per cent in the last one year. 

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