Back-to-back upper circuit penny stock: Acquires land in Gujarat for establishing hybrid power plant!

Upon completion of the project, the Hybrid Power Plant aims to contribute 97.5 Megawatts of clean and sustainable electricity to the grid.

Gujarat Toolroom Limited has set its sights on a greener future with its latest endeavor in the renewable energy sector. The company has announced the successful acquisition of 65 acres of prime land in Gujarat, marking a significant step forward in its commitment to sustainable energy generation.

Incorporated in 1991, Gujarat ToolRoom Limited is in the business of developing and operating mines and minerals, as well as other allied activities.

Key Highlights:

Land Acquisition: GTL has procured a strategically located parcel of land spanning 65 acres in Gujarat, earmarked for the construction of a Hybrid Power Plant.

Solar Panel Installation: Approximately 60 acres of the acquired land will be dedicated to the installation of solar panels. Each acre is projected to generate 1 Megawatt of energy per hour.

Infrastructure Allocation: The remaining 5 acres will be designated for essential power management infrastructure, including transformer stations and high-voltage line terminals.

Wind Turbine Configuration: The land layout plan includes provisions for the placement of 15 on-shore wind turbines, strategically positioned across every 4 acres of land. Each turbine is expected to produce 2.5 Megawatts of power per hour.

Total Power Output: Upon completion, the Hybrid Power Plant aims to contribute 97.5 Megawatts of clean and sustainable electricity to the grid.

Impact and Benefits:

Sustainable Energy Generation: The Hybrid Power Plant signifies GTL's commitment to harnessing renewable energy sources for sustainable electricity generation.

Community Empowerment: With the potential to power approximately 70,000 to 73,000 households simultaneously, the project is poised to positively impact local communities by providing access to reliable electricity.

Environmental Responsibility: By reducing reliance on fossil fuels and minimizing carbon emissions, the project aligns with GTL's environmental sustainability objectives and contributes to mitigating climate change.

With an estimated project cost ranging from RS 5.72 to 6.5 billion and a projected timeline of 3-5 years for completion before commercialization, GTL is poised to embark on a transformative journey toward a greener future. Further insights and detailed information will be shared in a dedicated project report cum investor presentation, underscoring GTL's transparency and commitment to stakeholder engagement.

This micro-cap company's shares opened the day at Rs 29.32 per share. It hit an upper circuit today and is currently at Rs 30.78, representing a gain of 4.98 per cent. The stock has also delivered a multibagger return of around 5200 per cent in the past three years and 11300 per cent in the past decade. The company has not yet announced its Quarterly Results so far.

Investors must keep this stock on their radar.