8 months ago
Vikran Engineering Secures 1,000 MW Solar Orders
Vikran Engineering, a company that builds solar power plants, got a lot of new work in just one week.
They won contracts to build solar projects that can make over 1,000 MW of electricity.
This is a big deal because it's a lot of work and shows that the company is growing.
The stock price of the company went up by 16% in two days because people are happy about these new projects.
The company also decided to stop working on a smaller project worth Rs 1,641 crore because they thought the new projects were better.
The new projects are in different places like Maharashtra, Uttar Pradesh, and Madhya Pradesh.
One of the projects is under a special government scheme called PM KUSUM-C, which helps farmers get solar power.
The company will build these projects and sell the electricity for 25 years.
Vikran Engineering secured over 1,000 MW of solar orders in a week.
The company's stock price increased by 16% in two trading sessions.
Major projects include a 600 MW turnkey EPC order in Maharashtra and a 400 MW BoS package in Uttar Pradesh.
The company disengaged from a 505 MW order worth Rs 1,641 crore to upgrade its order book.
The projects are under the PM KUSUM-C scheme with a 25-year power purchase tenure.
- Who
- Vikran Engineering
- What
- Secured over 1,000 MW of solar orders
- Where
- Projects in Maharashtra, Uttar Pradesh, and Madhya Pradesh
- When
- Within a week (December 23-26)
- Why
- To upgrade order book quality and size
Key facts
- Company
- Vikran Engineering
- Total Solar Capacity Secured
- 1,045 MW
- Stock Price Increase
- 16% in two sessions
- Major Projects
- 600 MW in Maharashtra, 400 MW in Uttar Pradesh, 45.75 MW in Madhya Pradesh
- Order Value
- Rs 2,494.46 crore (Rs 2,035.26 crore + Rs 459.20 crore)
- Disengaged Order
- 505 MW worth Rs 1,641 crore
- Scheme
- PM KUSUM-C
- Power Purchase Tenure
- 25 years
Quotes
Ajit Mishra
Senior Vice President–Research at Religare Broking
“market sentiment was influenced by a mix of domestic macroeconomic cues and global developments, with investors weighing local data points against evolving international trends. India concluded a comprehensive Free Trade Agreement (FTA) with New Zealand, strengthening its Indo-Pacific engagement and export diversification strategy. On the macro front, growth across the eight core infrastructure sectors slowed sharply to 1.8% in November, highlighting near-term moderation in industrial momentum”
businesstoday.in
“Foreign Institutional Investors (FIIs) remained net sellers throughout the week, reversing the brief inflows seen in the previous week. Additionally, stable currency movements, record highs in bullion prices, and holiday-thinned participation contributed to a mixed trading environment”
businesstoday.in
Sources
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