Ashish Kacholia-Backed Solar Energy Stock In Green After Bagging Rs 372.20 Crore From Rajasthan Renewable Energy Corporation & Teerth Gopicon
The stock gave multibagger returns of 100 per cent in just 1 year and a whopping 2,000 per cent in 2 years.
Insolation Energy Limited has announced a significant business development, having secured two major contracts that will add Rs 372.20 crore to its revenue. The company received a Letter of Award from Rajasthan Renewable Energy Corporation Limited (RREC) for the design, supply, erection, testing, and commissioning of rooftop solar systems on state government buildings across three districts in Rajasthan. This contract, valued at Rs 340.20 crores, includes comprehensive operation and maintenance for 25 years. Additionally, Insolation Energy secured a purchase order from Teerth Gopicon Limited for the supply of 46,297 Solar Photovoltaic (SPV) MONO Crystalline Modules, worth Rs 32 crores. These orders reflect the company's strategic efforts to enhance operational efficiency and expand its customer base. The contracts are expected to be executed in the financial year 2025-26, marking a significant step forward in the company's growth trajectory.
Earlier, shares of Insolation Energy ex-traded a stock split of its equity shares. Each existing share with a face value of Rs 10 will be divided into 10 new shares with a face value of Re 1 each. The company aims to increase liquidity and broaden its shareholder base by making the shares more affordable to retail investors. The stock split record date was Friday, January 24, 2025.
Additionally, an ace investor, Ashish Kacholia’s company - Bengal Finance & Investment Pvt Ltd bought 1,21,600 shares via preferential issue for Rs 3,287 per share aggregating to approx. Rs 40 crore. Furthermore, FIIs bought 1,76,500 shares and increased their stake to 1.36 per cent in December 2024 compared to September 2024 while DIIs took a fresh entry and bought 32,900 shares or 0.15 per cent stake.
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Incorporated in 2015, Insolation Energy Ltd specializes in manufacturing high-efficiency solar panels and modules, operating a 200 MW SPV Module manufacturing unit in Jaipur, which spans over 60,000 sq. ft. and is equipped with advanced machinery. Notably, the company holds the position of the second-largest North Indian manufacturer of solar panels, batteries, and inverters, based in Jaipur, Rajasthan.
On Tuesday, shares of Insolation Energy Ltd surged 5 per cent to Rs 264.70 per share from its previous closing of Rs 252.15 per share. The stock gave multibagger returns of 100 per cent in just 1 year and a whopping 2,000 per cent in 2 years. Investors should keep an eye on this solar stock.
Disclaimer: The article is for informational purposes only and not investment advice.