Shares of this multibagger green energy stock hit its 5 percent upper circuit after the company successfully received an order from “Gujarat Urban Development Company Limited” (GUDC) worth Rs 2.50 crores. Year-to-date, the company’s stock has gained over a whopping 85 percent to its holders.
With a market capitalization of Rs 178.71 crores, the stocks of Ahasolar Technologies Limited started their trading session on Friday hitting the 5 percent upper circuit at Rs 579.80, and currently too, the stock is locked at the same share price.
Such sharp stock price movements are observed today after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), intimated about the receipt of a domestic order/consultancy contract from “Gujarat Urban Development Company Limited” (GUDC) worth Rs 2.50 crores.
The abovementioned order pertains to the consultancy services at Government Buildings in Gujarat including cities like Vadnagar, Gandhinagar, and Somnath for the purpose of setting up a grid-connected ‘Solar Photovoltaic’ Project. The time period for completion of the order is five years.
Keeping a purview of one year, the company’s stock delivered multibagger returns of approximately 172 percent to its stakeholders, i.e., if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 2.72 lakhs.
A couple of days back, the company received an order worth Rs 37 lakhs from the GUDC for a solar Photovoltaic’ project in nearly 148 locations in Gujarat.
Incorporated in 2017, Ahasolar Technologies Limited is engaged in the business of developing AI-based platforms for solar companies & government agencies to manage the business. The company’s platform aids in the process of designing, procuring, and selling solar PV plants, project management, drone surveys, etc.
Written by Amit Madnani
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