Solar penny stock under Rs 25 hit the upper circuit after bagging new order worth Rs 15,57,81,437.37 from NHPC Ltd
The stock gave multibagger returns of 147 per cent from its 52-week low of Rs 8.39 per share.
On Wednesday, shares of Sharika Enterprises Ltd hit a 5 per cent upper circuit to Rs 20.74 per share from its previous closing of Rs 19.76 per share. The stock’s 52-week high of Rs 32.48 per share and its 52-week low is Rs 8.39 per share. The company has a market cap of Rs 89.8 crore.
Sharika Enterprises Limited (SEL) has been awarded a work contract by NHPC Ltd, a Government of India Navratna Enterprise. This domestic contract involves the development of Rooftop Solar Power Projects with a total capacity of 4 MW on NHPC Limited buildings in ZONE-1: UT of Jammu & Kashmir Power Stations. The project falls under the PM Surya Ghar: Muft Bijli Yojna. The total contract value is Rs 15,57,81,437.37. The project execution timeline includes 09 months for the EPC portion and a subsequent 05-year comprehensive O&M period as per the contract agreement.
Earlier, the company was awarded a work contract by POWERGRID Energy Services Limited, a wholly-owned subsidiary of Power Grid Corporation of India. This contract involves the supply and installation of rooftop solar systems on government buildings in Ladakh and Rajasthan, as well as on POWERGRID buildings in the Northern Region. The project falls under the PM Surya Ghar-Mufti Bijli Yojna and is valued at Rs 5.74 crore. The project is expected to be completed within 6 months.
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About Sharika Enterprises Ltd
Sharika Enterprises Ltd., boasting a rich legacy of decades in the power sector with expertise in transmission and distribution, is committed to driving innovation and ushering in a transformative era in the industry. Their visionary goal is to evolve the sector into a futuristic 'Smart Grid,' harnessing state-of-the-art technologies and sustainable solutions. The company has also made remarkable strides in the solar power sector. Actively collaborating with governmental bodies, PSUs, schools, private sectors, and more, Sharika Enterprises has successfully implemented a large number of solar PV projects in the last 4-5 years. Their portfolio includes a range of pioneering solar solutions such as Grid-connected solar PV Systems, Off-Grid Solutions, Hybrid Solutions with Battery Backup, Battery Energy Storage Systems, EV Charging Systems, Micro Grids, Real-Time Monitoring of solar Plants and Solar Street Lights.
The stock gave multibagger returns of 147 per cent from its 52-week low of Rs 8.39 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.