During Monday’s trading session, the shares of a company specialising in engineering construction and development with a focus on roads, sewerage and water distribution projects surged nearly 3.3 percent on NSE, after receiving a solar power order from Jaipur Government for a total capacity of 39.4 MW.
Price Movement
With a market cap of Rs. 476.4 crores, the shares of Teerth Gopicon Limited moved up by nearly 3.3 percent to hit an intraday high at Rs. 415, compared to its previous closing price of Rs. 401.9.
What’s the news
According to the latest regulatory filings with the NSE, Teerth Gopicon Limited received a Letter of Intent (LoI) from Jaipur Vidyut Vitaran Nigam Limited (JVVNL) for the development of solar power plants with a total capacity of 39.4 MW.
The order covers the design, survey, supply, installation, testing, commissioning, operation & maintenance of grid-connected solar power plants under the RESCO mode from the Commercial Operation Date (COD).
It also includes the associated 11 kV line to connect the plant to various 33/11 kV sub-stations, along with the remote monitoring system (RMS) for the solar power plants, as per TN-01 under Component A of the PM-KUSUM Scheme of JVVNL.
The project is expected to be completed within 9 months of the work order issuance, with operation and maintenance for 25 years from the COD.
Also Read: Power stock jumps 4% after receiving LoI from Rajasthan Part-I Power Transmission
Previous News
29th January 2025: Teerth Gopicon secured an order worth Rs. 2.98 crores from NHPC Limited for the development of Rooftop Solar Power Projects at various NHPC buildings in Zone 3 (UP/Uttarakhand power stations/offices).
5th February 2025: The company was declared as L1 (First Lower) Bidder by the NHPC Limited for the tender “Package-1: Works for boundary survey, chain link fencing, gates, and compound walls around the 600 MW (Phase-I) solar power park for the development of a 1200 MW solar park under UMPPRE in Jalaun, Uttar Pradesh,” with a bid project cost of Rs. 20.2 crores.
Financials
Teerth Gopicon experienced a significant growth in its revenue from operations, showing a year-on-year increase of around 84 percent from Rs. 37 crores in H1 FY24 to Rs. 68 crores in H1 FY25.
Similarly, its net profit increased during the same period from Rs. 3 crores to Rs. 10 crores, indicating an impressive rise of nearly 233.3 percent YoY.
About the company
Teerth Gopicon Limited specialises in engineering construction and development, mainly focusing on roads, sewerage and water distribution projects in Madhya Pradesh and expanding its geographical footprint to other states as well.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
