13,000 Per Cent Returns: Multibagger Solar Company Bags New Order Worth Rs 480,00,00,000 From NTPC Ltd

The stock gave multibagger returns of 120 per cent in just 1 year and a whopping 13,000 per cent in 5 years.

Refex Green Power Limited, a wholly-owned subsidiary of [Refex Renewables & Infrastructure Ltd], has successfully secured a contract to develop a 100-megawatt (MW) solar power project. This significant achievement was made possible through a competitive bidding process initiated by NTPC Limited, a leading Indian power generation company.

Under the terms of the contract, Refex Green Power will be responsible for the entire project lifecycle, including design, construction, and operation. The estimated project cost is approximately Rs 480 crore. Upon completion, the solar power plant will generate clean, renewable energy that will be supplied to NTPC Limited under a 25-year power purchase agreement (PPA). The scheduled commissioning date for the project is within 24 months from the effective date of the PPA.

Refex Renewables & Infrastructure Ltd has a rich legacy in the silicon industry and was originally formed in 1959 with the establishment of the Monsanto Electronic Material Company (MEMC), a division of the multinational Monsanto Corporation. Initially, its business pioneered and focused on the manufacturing of silicon wafers for semiconductors in the burgeoning electronics industry. The company has a market cap of Rs 361.8 crore with a 3-year stock price CAGR of 140 per cent.

On Friday, shares of Refex Renewables & Infrastructure hit a 2 per cent upper circuit to Rs 805.80 per share from its previous closing of Rs 790 per share. The stock gave multibagger returns of 120 per cent in just 1 year and a whopping 13,000 per cent in 5 years. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice. 

Also Read: This solar PV manufacturer could illuminate the primary market; can it double your investment?