The shares of the Penny stock specializing in providing integrated solar information technology (IT) solutions hit a 2 percent upper circuit upon receiving a work order from Gujarat Urban Development Company Limited.
With a market capitalization of Rs. 35.12 crores on Friday, the shares of Ahasolar Technologies Limited hit a 2 percent upper circuit, making a high of Rs. 113.95 per share compared to its previous closing price of Rs. 111.75 per share.
Ahasolar Technologies Limited, engaged in providing integrated solar information technology (IT) solutions, has received a domestic work order from Gujarat Urban Development Company Limited (GUDCL) to provide consultancy services for 48 locations in Gujarat.
The project involves preparing pre-feasibility reports, including site surveys, technical analysis, and financial analysis, for setting up grid-connected solar photovoltaic projects. The total value of the consultancy contract is approximately Rs. 11.76 lakhs, and the work is to be completed within four months.
Ahasolar Technologies Limited specializes in CleanTech solutions to facilitate the transition to renewable energy through digital transformation. The company offers Software as a Service (SaaS) products for solar companies, encompassing PV design, project management, and generation monitoring, along with an integrated marketplace connecting demand and supply.
The company has a set of marquee clients, in which of them includes Larsen & Turbo, BPCL, Coal India Limited, Tata Steel Ltd, Torrent Power, UPNEDA, KPMG, Deloitte, and many more.
The company’s revenue rose by 79 percent from Rs. 12.89 crore to Rs. 23.07 crore in H1FY24-25. Meanwhile, the Net loss went from Rs. 0.77 crore to Rs. 2.88 crore during the same period.
Written by Sridhar J
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