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Green Energy stock to watch after it receives grant from Gates Foundation to expand solar cooking technology in India

A new solar cooking project aimed at underprivileged and tribal regions in India has secured support from the Gates Foundation. The pilot funding will enable the installation of solar cooking devices in selected districts.
EKI Energy secures Gates Foundation grant to expand solar cooking technology for tribal, underprivileged regions.

Introduction:

A solar cooking project aimed at benefiting tribal and underprivileged communities in India has received a pilot grant from the Bill & Melinda Gates Foundation. The funding will support the introduction of solar cooking devices in select districts across Madhya Pradesh, Uttar Pradesh, and Maharashtra.

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Share price movement of EKI Energy Services Ltd:

On 18 November 2024, EKI Energy Services Ltd’s share opened at ₹230.00, a 3.98% increase from the previous close of ₹229.15. The intraday high was ₹230.50, and the low was ₹218.00. The market capitalization stands at ₹608.45 crore. 

By 1:20 PM, the stock was trading at ₹221.00, showing a 3.56% decline from the previous close.

Also Read: Anil Ambani stock in focus after it reports ₹4,082 Cr net profit against loss of ₹294 Cr year ago

EKI Secures Gates Foundation Grant:

EKI Energy Services Ltd. has received a pilot grant from the Bill & Melinda Gates Foundation to support its “Surya Nutan” indoor solar cooking device project. This initiative aims to provide sustainable cooking solutions to underprivileged communities in India.

The grant will facilitate pilot projects in selected districts of Madhya Pradesh, Uttar Pradesh, and Maharashtra, focusing on tribal and underserved populations. “Surya Nutan” seeks to address the issue of clean cooking in rural areas.

This collaboration further advances EKI’s mission to deliver affordable and eco-friendly cooking technology to communities in need, contributing to environmental and social sustainability.

Recent news on EKI Energy Services Ltd:

On November 9, 2024, EKI Energy Services Ltd successfully registered Azerbaijan’s first solar project, marking a significant milestone in the country’s renewable energy sector. This development further strengthens EKI’s global footprint and commitment to expanding solar energy initiatives worldwide. The project will support sustainable energy solutions in Azerbaijan.

Also Read: Solar stock jumps 5% after it receives ₹3,753 Cr loan from REC for projects in Rajasthan

Stock performance of EKI Energy Services Ltd  for Period of 1 week, 6 months and 1 year:

EKI Energy Services Ltd. has faced a challenging period, with its stock declining by 8.85% over the past week. The six-month return stands at -30.2%, while the one-year return has dropped by 45.0%, highlighting its underwhelming performance in recent times.

Shareholding pattern of EKI Energy Services Ltd:

All values in %Sep 2024Jun 2024Mar 2024
Promoter73.40%73.40%73.40%
FII0%0.10%0.10%
DII0%0.00%0.00%
Public26.60%26.40%26.40%

About the company EKI Energy Services Ltd:

EKI Energy Services Ltd (BSE: 543284) is a leading renewable energy solutions, specializing in carbon credits, clean energy projects, and environmental sustainability. The company focuses on innovative technologies, including solar solutions, to improve energy access for underserved communities. EKI is committed to enhancing environmental health and supporting sustainable development.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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