LIC-backed penny stock under Rs 60 is in focus as this solar company receives new order of Rs 1,26,31,459 from Mahindra Holidays and Resorts India Ltd
The shares of the company saw a spurt in volume by more than 3.4 times on BSE and up by 30 per cent from its 52-week low of Rs 39.26 per share.
TCM Limited is delighted to announce that it has been awarded a substantial work order by Mahindra Holidays and Resorts India Limited to design, supply, install, and commission a 300 kWp grid-connected solar power plant at their esteemed Club Mahindra Resort in Cherai Beach, Kerala. This significant project further solidifies our position as a leading provider of renewable energy solutions and expands our footprint within the hospitality sector. The order is worth Rs 1,26,31,459.
The key terms and conditions of the work order include a rigorous delivery deadline of 60 days, a guaranteed annual energy generation of 4 units per kW, and comprehensive warranties for solar panels, inverters, and other essential components. This domestic project is anticipated to make a substantial contribution to the resort's energy requirements and sustainability objectives. TCM Limited is steadfast in its commitment to delivering a superior quality and highly efficient solar power solution that precisely meets the unique needs of Mahindra Holidays and Resorts India Limited.
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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 Friday, shares of TCM Ltd plunged 1.05 per cent to Rs 50.74 per share from its previous closing of Rs 51.28 with an intraday high of Rs 54.47 and low of Rs 49.54. 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 3.4 times on BSE and up by 30 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.