High ROE & high ROCE stock: This micro-cap energy company receives order worth Rs 100.2 crore; scrip jumps over 10 per cent!

The stock is up by 29 per cent in just 1 month.

On Monday, one of the Top Gainers on NSE, shares of Oriana Power Ltd gained 13.73 per cent to an intraday high of Rs 387 per share from its previous closing of Rs 340.3 per share. The stock’s 52-week high is Rs 408 and its 52-week low is Rs 326.6. At the closing bell, shares of the company were trading at Rs 383 per share, up 12.55 per cent.

Oriana Power Ltd (NSE Scrip Code: ORIANA), a prominent renewable energy solutions provider, announced that it has bagged an order worth Rs 100.2 crore for setting up a 29MW captive open-access solar power plant for a renowned steel manufacturing company based out of Karnataka.

The Company will manage each phase of the project's lifecycle, including design, engineering, supply, and installation, with an anticipated completion timeframe of 5 months. In addition, Oriana Power Ltd. will deliver one year of specialized operation and maintenance services.

This project win aligns seamlessly with the company's commitment to advancing positive environmental change and reinforcing its reputation as a dependable provider of sustainable energy solutions, thereby bolstering the nation's journey towards a more sustainable energy future.

According to the financials, Oriana Power has a market cap of over Rs 700 crore. In FY23, the net sales increased by 9 per cent to Rs 136 crore, operating profit increased by 67 per cent to Rs 20 crore and net profit increased by 57 per cent to Rs 11 crore compared to FY22.

The shares of the company have an ROE of 46.8 per cent and an ROCE of 27.1 per cent. The stock was listed on NSE at Rs 317.1 per share with a lot size of 1,200 shares. The stock is up by 29 per cent in just 1 month. Investors should keep an eye on this micro-cap stock.