4,100 per cent multibagger returns and FIIs bought 2,52,750 shares: This electric equipment stock bags new order worth Rs 86.48 crore for 25 MWac solar plant!

Shares of the company gained about 19 per cent in the last six months.

RMC Switchgears Limited has secured a significant new order in the solar energy sector, further solidifying its presence in this growing market. The contract, valued at approximately Rs 86.48 crore, involves supplying and installing equipment for a 25 MWac ground-mounted solar plant with a single-axis tracker in Bhuj, Gujarat. This win comes within a week of RMC securing its first major solar EPC (Engineering, Procurement, and Construction) order, highlighting its rapid expansion in the renewable energy sector.

The project scope encompasses supplying solar equipment, a 220 kV substation, and 5 km of transmission line materials. This turnkey solution demonstrates RMC's expertise in electrical infrastructure and their commitment to contributing to India's clean energy goals. It aligns with the company’s strategic vision for sustainable development and positions them as a key player in the green energy sector.

Recently, the company disclosed the acquisition of a substantial work order from Trade World Exim LLP. This involves supplying, installing, and maintaining solar panels and inverters for a 1.35 MWp Plant in Rajasthan. The contract is valued at approximately Rs 4.76 crore and is scheduled for completion within 8 months. FIIs & DIIs have increased their stake in the company in March 2024. India Emerging Giants Fund Limited bought 2,52,750 shares of the company. Shares of RMC Switchgears Limited have also delivered multibagger returns of more than 4,100 per cent in a three-year holding period.

The stock has shown impressive growth, and investors should keep a close eye on this stock. 

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