SPML Infra shares surged 4% in morning trade following a significant development from the Maharashtra Industrial Development Corporation (MIDC). MIDC has allotted 99,000 square meters of land in the Supa Parner Industrial Park, Ahmednagar, Maharashtra, to SPML Infra. As of 10:10 AM, the shares were trading 2.81% higter at Rs 196.39.
This land allotment is designated for setting up a Battery Energy Storage System (BESS) manufacturing unit, marking an important step in the company’s expansion into the energy storage sector. The allotment is subject to payment of the premium and compliance with other terms outlined by MIDC. SPML Infra has already paid the earnest money and is actively working towards completing the premium payment as required.
The move aligns with growing demand for energy storage solutions, especially battery-based systems that support renewable energy integration and grid stability. This new manufacturing facility is expected to strengthen SPML Infra’s position in the clean energy infrastructure market.
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