LIC-Backed Solar Penny Stock Under Rs 65 Is In Focus As Company Receives New Order Of Rs 37,89,458 From Mahindra Holidays and Resorts India Ltd
The shares of the company saw a spurt in volume by more than 3.50 times on BSE and up by 58.5 per cent from its 52-week low of Rs 39.26 per share.
TCM Ltd announces that it has received a significant work order from Mahindra Holidays and Resorts India Limited for the design, supply, installation, and commissioning of a 90 kWp grid-connected solar power plant at their Club Mahindra Resort in Arookutty, Kerala. The order, valued at Rs. 37,89,458, is part of the company's ongoing efforts to expand its presence in the renewable energy sector. The project is expected to be completed within 60 days from the date of the work order, with key terms and conditions including a 10-year panel warranty, a 25-year performance warranty, and a 7-year inverter warranty. TCM Ltd. is confident in its ability to deliver a high-quality and efficient solar power solution that will meet the specific needs of Mahindra Holidays and Resorts India Limited.
Earlier, the company was awarded a contract award from Mahindra Holidays and Resorts India Limited for designing, supplying, installing, and commissioning a 300 kWp grid-connected solar power plant at their renowned Club Mahindra Resort in Cherai Beach, Kerala. This project reinforces our position as a premier renewable energy solutions provider and expands our presence in the hospitality sector. Valued at Rs 1,26,31,459, the order includes a 60-day delivery deadline, a guaranteed annual energy generation of 4 units per kW, and comprehensive warranties for solar panels, inverters, and other components.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
About the Company
TCM Ltd manufactures medical products, GPS-enabled automatic headlight beam assist systems for vehicles under the brand name of ENSO and the business of setting up and commissioning solar power plants. The shareholding pattern of the company where promotors hold a 49.51 per cent stake, DIIs hold a 7.44 per cent stake (out of which Life Insurance Corporation of India owns 7.41 per cent) and the rest is owned by the general public which is 43.05 per cent as of June 2024.
On Wednesday, shares of TCM Ltd gained 7.75 per cent to Rs 62.21 per share from its previous closing of Rs 57.74. The stock has a 52-week high of Rs 66.97 and a 52-week low of Rs 39.26. The shares of the company saw a spurt in volume by more than 3.50 times on BSE and up by 58.5 per cent from its 52-week low of Rs 39.26 per share.
Disclaimer: The article is for informational purposes only and not investment advice.