Rs 1,300 crore order book: Solar company signs Rs 1,500 crore MoU with Government of Madhya Pradesh & Bags order from Jaipur Vidyut Vitaran Nigam
The stock gave multibagger returns of 197 per cent from its 52-week low of Rs 123 per share.
On Tuesday, shares of Teerth Gopicon Limited hit a 5 per cent upper circuit to Rs 364.85 per share from its previous closing of Rs 347.50 per share. The stock’s 52-week high is Rs 774 per share and its 52-week low is Rs 123 per share.
Teerth Gopicon Limited (TGL) has signed a Memorandum of Understanding (MOU) with The New and Renewable Energy Department, Government of Madhya Pradesh during the Global Investor Summit – 2025 held at Bhopal. The MOU sets forth the intent of the Company to invest Rs 1,500 crore in setting up a 3 GW of Topcon Solar Module Manufacturing and 3 GW of Solar Cell Manufacturing line-based project of capacity 3 GW + 3 GW in the State of Madhya Pradesh.
Additionally, Teerth Gopicon Limited (TGL) has received a Letter of Intent from Jaipur Vidyut Vitaran Nigam Limited (JVVNL) for the design, survey, supply, installation, testing, commissioning, operation, and maintenance (for 25 years from the Commercial Operation Date (COD)) of grid-connected solar power plants totalling 6.89 MW. This project, awarded under Component A of the PM-KUSUM Scheme, involves the RESCO mode and includes associated 11 kV lines connecting the plants to various 33/11 kV substations, as well as a remote monitoring system (RMS). The project is divided across four locations: Samrai (2.00 MW), Nipaniya Uda (1.99 MW), Ralayti (1.91 MW), and Brijnagar (0.99 MW), all within the Jhalawar and Baran circles. The contract, awarded by a domestic entity, stipulates a 9-month execution period from the work order issuance, with a 25-year operation and maintenance period for the power plants and 11kV lines.
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Teerth Gopicon Ltd., established in 2019, is a certified all-class civil and electrical contractor specializing in engineering construction and development. The company primarily focuses on infrastructure projects, particularly roads, sewerage and water distribution systems, in Madhya Pradesh, with a growing presence in other states. TGL has a strong track record of executing projects for both government and private sector clients, offering comprehensive EPC services including detailed engineering, procurement, construction and operation & maintenance.
The company has a market cap of Rs 436 crore and including the above order the company’s order book exceeds over Rs 1,300 crore. The stock gave multibagger returns of 197 per cent from its 52-week low of Rs 123 per share. Investors should keep an eye on this SME stock.
Disclaimer: The article is for informational purposes only and not investment advice.