The share price of this Solar company which deals in the business of Solar power projects EPC and operations while offering solar energy solutions on a BOOT basis hit 3 percent higher on Tuesday after the company received an order worth Rs. 38.40 crore from Solar power Developer (Rajasthan).
Share Price Movement
In Tuesday’s trading session, With a market capitalization of Rs. 3,962.23 crores, Oriana Power Ltd‘s share price touched a day’s high of Rs. 2,019 which was up by 2.71 percent. The share price reiterated from the day’s high and was trading at Rs. 1,950 which is 0.79 percent lower than the previous closing price of Rs. 1,965.60. In the past year, the stock has delivered a multi-bagger return of around 203 percent and has outperformed the Nifty Index in the past year.
What happened
The company’s stock surged after the company received an order from the Solar Power Developer (Rajasthan) worth Rs. 38.40 crore for the development of a Hybrid renewable power generating plant which is Solar & Containerized BESS with a capacity of 9 MW and 903 kWh. This order is under the Engineering, Procurement, and Commissioning (EPC) segment and this project marks an introduction into the Battery Energy Storage Systems (BESS) category. The timeline for the contract to be executed is 6 to 8 months.
Order Book & Recent Orders
The company has an order book of around 500+ MW. The company had received orders from a renowned cement manufacturer based in Tamil Nadu for 128MWp.
Key Projects
Oriana Power is involved in developing India’s largest Agro-Photovoltaic project in Delhi and started constructing Oriana’s first solar park based in Rajasthan with a capacity of 250MW with the target to reach 1 GW capacity.
About the company
Oriana Power was founded in 2013 and they specialize in innovative solar energy solutions for industrial and commercial sectors. The company has executed numerous projects in India and Kenya.
Written by – Santhosh S
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