Debt-free solar energy company bags new orders worth Rs 1,10,00,000 from Coal India Ltd
The stock is up by 70 per cent from its 52-week low of Rs 207 per share.
On Tuesday, shares of Ahasolar Technologies Ltd gained 0.85 per cent to Rs 343.85 per share with an intraday high of Rs 350.10 and an intraday low of Rs 338 from its previous closing of Rs 340.95. The stock’s 52-week high is Rs 657.75 and its 52-week low is Rs 207. The shares of the company saw a spurt in volume by more than 1.01 times on BSE.
Ahasolar Technologies Limited has been awarded a contract by Coal India Limited to provide owner's engineer-cum-project management consultancy services for a 300-MW solar photovoltaic power plant in Gujarat. The project, located at GIPCL's Solar Park in Khavda, is valued at approximately Rs 110 lakh and is expected to be completed within 27 months. The consultancy services will cover various aspects of the project, including design, procurement, construction, and commissioning.
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Earlier, the company was awarded a consultancy contract by Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH to conduct a feasibility study and develop an implementation model for solar panel-based energy supply at their four material recovery facilities. The contract, valued at approximately Rs 18 lakh, involves assessing the suitability of solar power for the facilities, designing an effective implementation plan, and considering all relevant factors such as technical requirements, economic viability and environmental benefits. The project is expected to be completed within six months.
Ahasolar Technologies Limited is engaged in the business of cleantech enabling energy transition through digital transformation. The company has a market capitalisation of over Rs 100 crore and is currently debt-free. The stock is up by 70 per cent from its 52-week low of Rs 207 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.