Shares of CONCOR hit a 52-week high of Rs 860.75 on 8 December after the company announced that it had signed a contract with NTPC Vidyut Vyapar Nigam to set up power projects. 

In its regulatory filing, the company said, “Container Corporation of India and NTPC Vidyut Vyapar Nigam Limited (NVVN) have signed a Memorandum of Understanding (MoU) to explore the possibility of setting up PV Solar renewable energy projects in CONCOR terminals.”

NTPC Vidyut Vyapar Nigam Limited will also explore the possibility of setting up solar projects in the company terminals. 

The company has also agreed to purchase and consume the solar power generated by the proposed solar photovoltaic project on a long-term basis and will enter into a separate agreement for the same. 

The company will provide the rooftop/land/water body that is required for setting up the projects to NTPC Vidyut Vyapar Nigam Limited on a long-term lease on mutually agreed terms before signing the power purchase agreement, which is to be executed separately. 

NTPC Vidyut Vyapar Nigam Limited will be responsible for project design, execution, supply, commissioning, and operation and maintenance of the solar photovoltaic project. 

At 12:12 pm, the shares of CONCOR were trading 0.65% lower at Rs 836.85 on NSE.