Solar Panel Manufacturer Bags New Order Worth Rs 34,21,08,979.6 From Rays Green Energy Manufacturing Private Ltd

The stock gave multibagger returns of 180 per cent in just 6 months and a whopping 950 per cent in 1 year.

Insolation Energy Ltd announced that its wholly owned subsidiary, Insolation Green Energy Private Limited, has been awarded a significant contract to supply Solar PV Modules. The contract was granted by a domestic entity, Rays Green Energy Manufacturing Private Limited. The specific terms of the agreement include the supply of 545WP SPV Panels. The order is a domestic contract and is expected to be completed within the current financial year (FY 2024-25). The total value of the contract, including GST, is Rs 34,21,08,979.6.

Insolation Energy Ltd, founded in 2015, is a leading manufacturer of high-efficiency solar panels and modules. Based in Jaipur, India, the company operates a 200 MW manufacturing facility and has recently announced plans to expand its capacity to 500 MW through a subsidiary. In addition to manufacturing, Insolation Energy also provides solar power conditioning units, lead-acid batteries, and EPC services. Its major domestic customers include Livguard Energy Technologies Pvt Ltd, Livfast Batteries Pvt Ltd, Shakti Pumps India Ltd, Microtek International Pvt Ltd, Sunroof Tech Pvt Ltd, etc.

On Wednesday, shares of Insolation Energy Ltd surged 0.57 per cent to Rs 3,768.65 per share from its previous closing of Rs 3,747.15. The stock also made a fresh 52-week high of Rs 3,950 while its 52-week low is Rs 345. The stock gave multibagger returns of 180 per cent in just 6 months and a whopping 950 per cent in 1 year. Investors should keep an eye on this solar stock.  

Disclaimer: The article is for informational purposes only and not investment advice. 

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