Penny stock at Rs 8.50 hit back-to-back upper circuits as this solar LED street lights company bags new order worth Rs 24 crore from UN Missions East Africa
The stock is up by 83 per cent from its 52-week low of Rs 4.65 per share.
On Tuesday, shares of Bright Solar Ltd were locked in a 5 per cent upper circuit to Rs 8.50 per share from its previous closing of Rs 8.10. The stock’s 52-week high of Rs 12.50 and its 52-week low is Rs 4.65. In the recent trading sessions, the stock has been hitting back-to-back upper circuits.
Bright Solar Limited announces the receipt of a substantial purchase order valued at approximately Rs 24 crore (USD 2.9 Million) from UN Missions East Africa for the supply and export of Solar LED Street Lights. This order signifies international recognition of the company's expertise in providing high-quality solar lighting solutions and is anticipated to bolster both revenue and profitability. The company is committed to delivering this order with the utmost quality and efficiency, underscoring its strategic growth and market leadership in the solar energy sector.
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Bright Solar Ltd, established in 2010, specializes in assembling and installing solar water pumps, offering EPC contracts, project consulting and water infrastructure services. With over 3000 installations, they provide drinking and irrigation solutions. Their product range includes DC and AC solar pumps, controllers, solar panels and a dedicated online mart. Beyond pumps, they undertake drone mapping, project consulting and rural water supply & sewerage projects, contributing to sustainable water management and renewable energy solutions under their brands Pumpman and Bright Solar.
This micro-cap company has a market cap of Rs 21.25 crore. The stock is up by 83 per cent from its 52-week low of Rs 4.65 per share. Bright Solar Ltd is an SME stock which should be kept under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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