CESC wins Bikaner power distribution franchise.

CESC Ltd., a part of the Rs. 19,000-crore RP-Sanjiv Goenka Group, has received a letter of intent for appointment as a power distribution franchisee to supply electricity in Bikaner, Rajasthan.

This is the group’s third distribution operation in Rajasthan, the other two being in Kota and Bharatpur.

The Bikaner city appointment is based on a competitive bidding and distribution agreement for a tenure of 20 years, and is expected to be signed shortly, the company said in a communiqué.

“We are delighted to expand our new business opportunity in Rajasthan. The Bikaner city distribution franchise, spread over 155 sq km, has 1.42 lakh consumers where the peak load so far has been 130 MW,” Sanjiv Goenka, Group Chairman, CESC Ltd, said.

The CESC stock was trading at Rs. 772.60, up by 0.70 per cent, at the BSE around 3.20 pm.

HBL