Solar Stock, which is engaged in the manufacturing of copper and other copper products and alloys and also deals in telecom products, solar products, and real estate, surged 8.59 percent after securing multiple orders worth Rs. 230 crores for a total capacity of 65.7 MW of solar power projects in Uttar Pradesh.
Stock Price Movement:
In Thursday’s trading session, Bhagyanagar India Limited‘s share reached an intraday high of Rs. 95.04 per equity share, rising 8.59 percent from its previous day’s close price of Rs. 87.52. The stock opened at Rs. 88 and is currently trading at Rs. 90.62. The market capitalization now stands at approximately Rs. 289.94 crore.
What Happened:
Bhagyanagar India Limited has been awarded 11 Letters of Award (LOAs) for a total capacity of 65.7 MW of solar power projects under the PM KUSUM Scheme in Uttar Pradesh.
The projects will be developed in collaboration with the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) and are expected to require an investment of Rs. 230 crore.
The company will set up grid-connected solar power plants with a tariff of Rs. 2.76 per kWh, supported by subsidies from both the Government of India and Uttar Pradesh. The projects are expected to be completed within 12 months, and the operation and maintenance contract will last for 25 years.
Products and services:
The company specializes in copper products such as copper rods, strips, pipes, busbars, and sheets. The company has expanded its offerings to include telecom products, solar solutions, and real estate.
Additionally, Bhagyanagar India Limited manufactures and supplies brass and copper products, copper components, electric motor parts, electrical cables, wires, and conductors, serving a wide range of industries.
Recent quarter results:
Bhagyanagar India Limited’s revenue has increased from Rs. 334.61 crore in Q3 FY24 to Rs. 394.48 crore in Q3 FY25, which has grown by 17.89 percent. The net profit has also grown by 44.57 percent from Rs. 2.76 crore in Q3 FY24 to Rs. 3.99 crore in Q3 FY25.
Written By – Nikhil Naik
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