Solar stock jumps after receiving order worth ₹59 Cr for compressed bio gas plant in UP

Published 22-01-2025, 12:27 pm
© Reuters Solar stock jumps after receiving order worth ₹59 Cr for compressed bio gas plant in UP

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.

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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

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