Micro-cap renewable energy stock commissions largest solar power plant for Indian Railways; keep an eye on it for the coming week!
Prime Minister Modi recently inaugurated and laid the foundation stone for a plethora of development projects valued at over Rs 34,400 crores, spanning critical sectors such as Roads, Railways
The trading session commenced with a promising stride as the Nifty surged to an opening high of 22,290 points, marking an auspicious start to the day's proceedings. Amidst this early momentum, the index scaled to an intraday pinnacle of 22,297 points during the morning hours, setting a new record. However, the market soon found itself ensnared in the grip of volatility, navigating a range-bound trajectory for the remainder of the day. Ultimately, the Nifty concluded at 22,213 points, experiencing a marginal decline of 5 points by session's end.
With the earnings season tapering off, the market's gaze now fixates upon forthcoming catalysts, even as it leans on the momentum preceding the impending elections. Mounting apprehensions surrounding escalating crude oil prices, burgeoning US bond yields, and stretched valuations continue to underpin sustained divestment by Foreign Institutional Investors (FIIs).
Investor sentiment remained tempered as anticipation loomed over imminent data releases, including GDP figures, fiscal deficit data for January, and statistics concerning eight key infrastructure industries, slated for unveiling on February 29.
One stock poised for noteworthy activity in the upcoming week is Refex Renewables & Infrastructure Ltd. Recently, Prime Minister Shri Narendra Modi inaugurated a monumental 50 MW Solar Power Plant at Bhilai, operated by Sherisha Rooftop Solar SPV Four Private Limited, a subsidiary of Refex Renewables & Infrastructure Limited. This pioneering initiative, dedicated to leveraging solar energy to power trains, stands as a testament to the commitment towards green energy and mitigating carbon emissions for a sustainable future.
Spanning across 192 acres, the Solar Plant is poised to generate over 104 million units annually, catering to the energy needs of the Indian Railways while curtailing CO2 emissions by over 1 lakh tonnes per year. Endorsed by the Railway Energy Management Company Limited and backed by a 25-year Power Purchase Agreement with the South East Central Railway (SECR), this 50 MW solar power plant represents the largest of its kind commissioned for the Indian Railways, heralding the advent of many such initiatives on the horizon.
Furthermore, Prime Minister Modi recently inaugurated and laid the foundation stone for a plethora of development projects valued at over Rs 34,400 crores, spanning critical sectors such as Roads, Railways, Coal, Power, and Solar Energy, during the 'Viksit Bharat Viksit Chhattisgarh' program.
Refex Group's commitment to innovation extends beyond the railway sector, with notable projects including a solar power plant integrated with battery storage for the Indian Army in Siachen and the pioneering 2 MW pilot project at Diwana (Panipat), Haryana, the first-of-its-kind solar power project along the track in India.
As a stalwart in India's business landscape, Refex Group commands a prominent presence across diverse sectors including refrigerant gases, renewables, coal & fly ash handling, green mobility, healthcare, pharmaceuticals, airport, and power trading.
The stock has witnessed an impressive ascent, surging by 23 per cent in the past week and a remarkable 43.77 per cent over the last three months. With such compelling momentum, investors are advised to keep a vigilant eye on Refex Renewables & Infrastructure Ltd in the forthcoming week.
Disclaimer: The article is for informational purposes only and not investment advice.
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