Heavy buying alert: Debt-free solar stock hit upper circuit today; Company bags new orders worth Rs 1,47,00,000 from HPCL, GEDA & GIZ
The stock is up by 94.5 per cent from its 52-week low of Rs 207 per share.
On Monday, shares of Ahasolar Technologies Ltd were locked in a 5 per cent upper circuit to Rs 402.55 per share from its previous closing of Rs 383.40 with a spurt in volume by more than 1.3 times on BSE. The stock’s 52-week high is Rs 657.75 and its 52-week low is Rs 207. The company boasts a strong three-year track record of 35.2 per cent return on equity and has significantly improved its debtor days from 35.6 to 24.5.
Ahasolar Technologies Limited has secured two substantial consultancy contracts. The first contract, valued at approximately Rs 56 lakh, was awarded by Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH. Under this agreement, Ahasolar will prepare detailed project reports for five lakes situated in Jammu and Kashmir. The consultancy services are expected to be completed within nine months. The second contract, valued at approximately Rs 31 lakh, was awarded by the Goa Energy Development Agency. Ahasolar will provide project management consultancy (PMC) services for a 3MW solar photovoltaic (PV) project at Mormugao Port Authority (MPA) under the Virtual Net Metering scheme. This project is anticipated to be completed within six months.
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In addition to the above projects, Ahasolar has also secured a domestic consultancy contract from Hindustan Petroleum Corporation Limited (HPCL). This contract, valued at approximately Rs 60 lakh, requires Ahasolar to provide project management and site supervision services for solar photovoltaic (PV) projects at HPCL's HINCOL and HPLNG locations. Ahasolar will oversee all project phases, from inception to completion, at the two HPCL sites. The project timeline is six months, within which Ahasolar must successfully execute the consultancy services as outlined in the contract's terms and conditions.
Ahasolar Technologies Limited is engaged in the business of cleantech enabling energy transition through digital transformation. The company has a market capitalisation of Rs 124 crore and is currently debt-free. The stock is up by 94.5 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.
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