Green Energy stock engaged in the business of the generation of power through renewable energy sources and many more hit a 5 percent upper circuit upon receiving a work order worth Rs. 547.5 Crores.
With a market capitalization of Rs. 9,258 Crores the shares of Waaree Renewable Technologies Limited hit a 5 percent upper circuit at Rs. 4,444.75.
Waaree Renewable Technologies Limited has received a letter of award worth Rs. 547.5 Crores, from One of the leading utility companies in the world in renewable energy for the execution of Engineering, Procurement, and Construction (EPC) work of a Solar power plant of 412 MWp /335 MWac on a turnkey basis.
The LOA also includes Operations and Maintenance for two years from the date of the handover takeover with an order value of Rs. 6.798 crore. The said project is to be completed by December 2024.
Waaree Renewable Technologies Limited is engaged in the business of the generation of power through renewable energy sources and also provides consultancy services related to it.
It has an unexecuted order book of 749+ MW with a strong customer base that includes well-known players like Reliance Industries, BPCL, Adani, Aditya Birla, Larsen & Toubro, NTPC, Mondelez, and many more.
It has reported a return on equity (ROE) of 95.8 percent and a return on capital employed (ROCE) of 83.8 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
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