7 hrs ago
Saatvik Green Energy Hits Upper Circuit After ₹1,042 Crore Order
Saatvik Green Energy makes solar equipment.
The company won an order worth ₹1,041.63 crore from Solar Energy Corporation of India.
The order is for supplying solar photovoltaic modules.
It is expected to be completed by December 2027.
After the announcement, the company’s share price rose 10% on the BSE.
It reached ₹428.60, the highest permitted daily price under the upper-circuit limit.
The company had also announced a separate ₹297.5 crore order earlier.
Although the stock is up 10% this year, it has fallen since July and is below its earlier high of ₹580.
Saatvik Green Energy shares rose 10% to ₹428.60, their upper-circuit limit, on the BSE on 16 September.
The move followed the company’s announcement of a ₹1,041.63 crore order from Solar Energy Corporation of India.
The order covers the supply of solar photovoltaic modules and is scheduled for completion by December 2027.
Saatvik Solar Industries previously received a ₹297.5 crore module-supply order from two independent power producers and EPC players.
The stock is up 10% year to date but has declined since July and remains below its ₹580 52-week high.
- Who
- Saatvik Green Energy and Solar Energy Corporation of India; Saatvik Solar Industries was also mentioned in connection with an earlier order.
- What
- Saatvik Green Energy received and accepted a ₹1,041.63 crore order to supply solar photovoltaic modules.
- Where
- The shares traded on the BSE.
- When
- The order was announced after market hours on 15 September, and the stock hit its upper circuit on 16 September; execution is due by December 2027.
- Why
- The shares rose after the company announced the large order.
Key facts
- Order value
- ₹1,041.63 crore
- Customer
- Solar Energy Corporation of India Limited
- Order product
- Solar photovoltaic modules
- Execution deadline
- December 2027
- Share price move
- Up 10% to ₹428.60
- 52-week range
- ₹329.70 low on 9 March to ₹580 high on 15 October last year
- Year-to-date performance
- Up 10%, while the Sensex was down 13% over the same period
Quotes
Saatvik Green Energy Limited
The company issuing the exchange filing about the solar-module order
“We wish to inform you that Saatvik Green Energy Limited has been awarded and has accepted an order from Solar Energy Corporation of India Limited for the supply of Solar PV Modules, with an aggregate order value of ₹1,041.63 crore,”
livemint.com
Sources
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