This small-cap stock was listed on 11th Aug 2023 at a price of Rs. 302 and it delivered ~5% return on the same day. Stock hit a 5% upper circuit today after receiving an order of Rs. 138 Cr Currently, the stock trading 0.77% away from the 52-week high.
Oriana Power Ltd
The company belongs to a small-cap, with a market capitalization of Rs. 603 Cr. On Tuesday the stock price opened at Rs. 312 and hit a 5% upper circuit of Rs. 314.65.
According to the filing, Oriana Power Ltd. received an order for setting up a 20 MW AC solar photovoltaic (PV) power plant in Dhanbad, Jharkhand’s Dugdha Washery Area. The project was given to the company by Bharat Cooking Coal Ltd (BCCL), a division of Coal India Ltd. The project is worth Rs. 138 Cr.
Within a year, the EPC phase is anticipated to be finished, after which the company will run and monitor the Dhanbad solar facility for five years. The project is anticipated to produce enough sustainable energy to power more than 10,000 homes and reduce annual CO2 emissions by about 26,000 tonnes.
The company’s net sales grew by 9.85% from Rs. 123.97 Cr in FY22 to Rs. 136.18 Cr in FY23, For the same period net profit increased by 57% from Rs. 6.94 Cr to Rs. 10.92 Cr.
As per the latest shareholding data, Promoters hold 61.41% and the Public holds a 38.59% stake in this company.
In India and Africa, Oriana Power is a well-known supplier of solar energy solutions for businesses and industries. Since its establishment in 2013, the company has completed more than 100 MW of solar installations. Two key business models are provided by Oriana Power: RESCO and CAPEX.
Written by Sheshadri N
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