The share price of this Solar company which deals in the business of Solar power projects EPC and operations while offering solar energy solutions on a BOOT basis hit 2 percent higher on Tuesday after the company received an order worth Rs. 59 crore from a Renewable Energy Developer (Uttar Pradesh).
Share Price Movement
In Wednesday’s trading session, With a market capitalization of Rs. 3,793.59 crores, Oriana Power Ltd’s (NSE:OIAN) share price touched a day’s high of Rs. 1,958 which was up by 1.78 percent. The share price reiterated from the day’s high and was trading at Rs. 1,867 which is 3.01 percent lower than the previous closing price of Rs. 1,850. In the past year, the stock has delivered a multi-bagger return of around 191 percent and has outperformed the Nifty Index in the past year.
Take advantage of AI-Powered ProPicks, Advanced Stock Screener, Fair Value, Financial Health, etc., with InvestingPro and take advantage of our New Year's Sale offer to stay ahead.
What happened
The company’s stock surged after the company received a Commercial order from a Domestic Renewable Energy (CBG) Developer (Prayagraj, Uttar Pradesh) worth Rs. 59 crore for the development of a Compressed Bio Gas (CBG) plant in Uttar Pradesh with a daily production capacity of 21 tons. This order further strengthens Oriana in the renewable energy sector. The timeline for the contract to be executed is 12 months.
Order Book & Recent Orders
The company has an order book of around 500+ MW. The company had received orders from a renowned cement manufacturer based in Tamil Nadu (NSE:TNNP) for 128MWp.
Key Projects
Oriana Power is involved in developing India’s largest Agro-Photovoltaic project in Delhi and started constructing Oriana’s first solar park based in Rajasthan with a capacity of 250MW with the target to reach 1 GW capacity.
About the company
Oriana Power was founded in 2013 and they specialize in innovative solar energy solutions for industrial and commercial sectors. The company has executed numerous projects in India and Kenya.
Written by – Santhosh S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses
The post Solar stock jumps after receiving order worth ₹59 Cr for compressed bio gas plant in UP appeared first on Trade Brains.
To understand more about InvestingPro, watch this video: https://www.youtube.com/watch?v=_WfQcN5vjI