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The company’s shares have delivered an impressive return of around 30 per cent to its shareholders.
Emcure Pharmaceuticals a leading Indian pharmaceutical company, and its subsidiary, Gennova Biopharmaceuticals Limited, have announced a significant leap toward sustainability through a new partnership with Sunsure Energy. The companies have signed a 22.78 MWp DC Solar Power Purchase Agreement (PPA), which will see them receive approximately 36 million units of clean, renewable energy annually for their Pune manufacturing facilities.
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This agreement will cover around 67 per cent of the power needs for these plants with green energy, thereby offsetting nearly 29,766 metric tons of CO2 emissions each year. This move marks a major advancement in Emcure’s commitment to reducing its environmental footprint. With a global presence in over 70 countries, Emcure Pharmaceuticals continues to emphasize its commitment to sustainability by integrating green practices into its operations. This new initiative underscores Emcure’s dedication to innovative solutions and environmental responsibility.
In addition to the PPA, Emcure and Gennova will acquire a stake in Sunsure Solarpark Twelve Private Limited, as part of a group captive scheme under the Electricity Act, 2023. Sunsure Energy will provide this renewable power from its 150 MWp DC solar plant located in Solapur, Maharashtra.
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Today, Emcure Pharmaceuticals shares closed at around Rs 1304.90 per share. The company’s current market capitalization stands at Rs 24675.44 crore.
According to the shareholding pattern, promoters own 78.08 per cent, and public investors own 17.01 per cent. FIIs and DIIs own 1.75 per cent and 3.15 per cent stakes in the company respectively.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.