Categories: Material Information

GATM invest in K Solar Ltd for renewable energy initiative

In a notification sent to the PSX on 21/03/2024. GATM (Gul Ahmed Textiles Ltd) has announced that it signed a term sheet with K Solar Private Ltd to produce 17.1 MW by renewable energy.

The company’s current solar capacity is 0.5MW and 1.4MW is under the installation phase. After this renewable energy initiative the capacity will increase to 19MW. This renewable energy will play role in cost saving and enhance the operational efficiencies. The commitment to achieve the targets and sustainability will be promised.

The shares of GATM were trading at Rs. 19.31 at market close today.

Aamir Hayat

Recent Posts

AGP Healthcare for a Better Tomorrow

AGP Limited (AGP) monthly market structure is showing strong bullish trend. Even this stock broke…

7 days ago

Why dividends cause share price drop if they’re paid from earnings?

When a dividend is paid, the share price drops by approximately the same amount because…

3 weeks ago

MUGHAL right shares – 3 things to know before subscribing

On November 5, 2024, Mughal Iron & Steel Industries Limited (MUGHAL) announced a unique rights…

4 weeks ago

How to analyze pharmaceutical sector

How to analyze pharma sector companies in PSX. Pakistan's pharma sector is considered a complicated…

1 month ago

Shifa International (SHFA) has returned 150% in two months, will the rally continue?

Shifa International (SHFA) has already rallied 150%, but there is still more upside to the…

2 months ago

How is HMB handling financial challenges to grow?

Habib Metropolitan Bank Limited (HMB) recently released its second-quarter results for 2024, revealing a mixed…

3 months ago