Veer Energy & Infrastructure said that its board of directors has decided to set up 12MW wind power project situated at Vinjalpur - Gujarat through its proposed subsidiary Shruti Power Projects.

The board has also decided to give corporate guarantee of Rs 525.6 million to Indian Renewable Energy Development Agency (IREDA) for its term loan sanctioned to its proposed subsidiary Shruti Power Projects.

Shares of the company gained Rs 0.15, or 3.47%, to trade at Rs 4.47. The total volume of shares traded was 70,143 at the BSE (1.27 p.m., Tuesday).