Solar civil construction company bags new order worth Rs 191,75,85,088 from Rajasthan Renewable Energy Corporation Limited
The stock is up by 46.6 per cent from its 52-week low of Rs 119.70 per share.
On Monday, shares of Rudra Gas Enterprise Ltd hit a 5 per cent upper circuit to Rs 175.50 per share from its previous closing of Rs 167.15 per share. The stock’s 52-week high is Rs 259.90 and its 52-week low is Rs 119.70. The shares of the company saw a spurt in volume by more than 3 times on BSE.
Rudra Gas Enterprise Ltd. has secured a significant Work Order from Rajasthan Renewable Energy Corporation Limited (a Government of India Undertaking). The company, in consortium with Nishaank Solar Energy and Suppliers (Nishaank), has been awarded the tender for designing, supplying, erecting, testing, commissioning, and providing comprehensive operation and Maintenance services for 25 years for Rooftop Solar Photovoltaic Power Projects on State Government Buildings in Rajasthan's Churu and Bikaner districts. Rudra Gas Enterprise Ltd holds a 51 per cent stake in the consortium, while Nishaank holds the remaining 49 per cent. This domestic contract, valued at Rs 191,75,85,088, underscores the company's growing presence in the renewable energy sector.
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Rudra Gas Enterprise Ltd. is a diversified company primarily engaged in gas distribution network projects, fiber optic cable networks and equipment rentals. Their core business involves the development and operation of city gas distribution networks, including laying pipelines, constructing CNG stations, and providing maintenance services. Additionally, the company specializes in the production and installation of fiber optic cables for efficient data transmission. To support infrastructure projects, Rudra Gas offers rental services for construction machinery and vehicles. Furthermore, they are active in renewable energy, particularly in rooftop solar photovoltaic power generation projects.
The company has a market cap of Rs 146 crore with an ROE of 28 per cent and an ROCE of 22 per cent. The stock is up by 46.6 per cent from its 52-week low of Rs 119.70 per share. Investors should keep an eye on this solar stock.
Disclaimer: The article is for informational purposes only and not investment advice.