Solar water pump manufacturing stock hit 20 per cent upper circuit; Bagged orders worth Rs 64.25 crore from DGVCL & MEDA
The stock was listed on July 19, 2024, and since then, the stock has been up by 91 per cent in less than 1 month.
On Wednesday, one of the Top Gainers on NSE, shares of Sahaj Solar Ltd were locked a 20 per cent upper circuit to Rs 653.40 per share from its previous closing of Rs 544.50 per share. The stock’s 52-week high is Rs 713 while its 52-week low is Rs 342.
Sahaj Solar Limited has secured a Rs. 16.03 crore (inclusive of GST) contract from Dakshin Gujarat Vij Co. Ltd. (DGVCL) to design, manufacture, supply, transport, install, test, and commission off-grid standalone solar photovoltaic water pumping systems under Component-B of the PM-KUSUM scheme. This domestic order, awarded to the company, entails project completion by March 2025, and Sahaj Solar Limited has subsequently agreed with DGVCL to formalize the arrangement.
Additionally, the company secured a Rs 48.22 crore (inclusive of GST) order from the Maharashtra Energy Development Agency (MEDA) for a turnkey off-grid solar photovoltaic water pumping system (SPWPS) for irrigation purposes under MNRE Component B of the PM-KUSUM scheme. This domestic order involves the design, manufacture, supply, transport, installation, testing, and commissioning of the system.
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Sahaj Solar Limited is a renewable energy company established in 2010. Their primary operations involve manufacturing solar PV modules at their 100 MW capacity plant in Bavla, Ahmedabad, Gujarat. This facility produces mono and polycrystalline modules, including advanced PERC technology, for domestic and international solar projects. Additionally, the company specializes in providing solar water pumping systems and offers comprehensive EPC services across India, ranging from small residential installations to large-scale solar power plants.
The company has a market cap of Rs 717.83 crore and shares have an ROE of 53 per cent and an ROCE of 40 per cent. The stock was listed on July 19, 2024, and since then, the stock has been up by 91 per cent in less than 1 month. Investors should keep an eye on this solar pump stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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