Announced Fri, 17 Jul · 19:16 IST
DCM Shriram inks Rs 105 cr deal with Serentica for 58 MW renewable power
DCMSHRIRAM · price
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Price reaction · full curve 14 horizons · vs prior close
+1.3%1-day move
₹1024.90
prior close
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AI summary
DCM Shriram signed a definitive agreement with Serentica Renewables India 38 Pvt. Ltd. to source 58 MW of renewable energy (36 MW round the clock) for its Bharuch, Gujarat facility. The company will invest up to Rs. 104.4 crore in one or more tranches for a 26% equity stake. Total renewable capacity will rise to 176 MW across Bharuch and Kota sites, with the project expected by June 2027. Expected to avoid about 0.4 million tonnes of CO2 emissions annually.
Likely market impact
Strategic move to lock in clean energy, cut power cost volatility, and strengthen sustainability profile of chemicals business. Margin-positive over time.