Solar Penny Stock Under Rs 25 In Focus As Company Secures Prestigious Solar Rooftop Contracts Worth USD 3 Million From NHPC, PGCIL & NTPC

The stock gave multibagger returns of 176 per cent from its 52-week low of Rs 8.39 per share.

On Monday, shares of Sharika Enterprises Ltd gained 2 per cent to an intraday high of Rs 23.19 per share from its previous closing of Rs 22.74 per share. The stock’s 52-week high of Rs 32.48 per share and its 52-week low is Rs 8.39 per share.  The company has a market cap of Rs 96 crore.

Sharika Enterprises has secured significant solar rooftop contracts totalling approximately 5MW and valued at around USD 3 million from prominent public sector entities. These contracts include projects with the National Hydroelectric Power Corporation (NHPC), POWERGRID Energy Services Limited (PGCIL), and the National Thermal Power Corporation (NTPC). Sharika's expertise in end-to-end project execution, encompassing supply, installation, and maintenance, will be essential for the successful completion of these projects.

The NHPC contract involves developing rooftop solar power systems across project sites in Jammu and Kashmir. This project will install a 4MW solar power system under the government's PM Surya Ghar: Muft Bijli Yojana. The contract with PGCIL covers the supply and installation of rooftop solar systems at government buildings in Ladakh, Rajasthan, and PGCIL buildings in the Northern Region, totalling 1MW in capacity.

Sharika's contract with NTPC entails the supply, installation, testing, commissioning, and operation of a 180KW solar carport at NTPC Unchahar in Raebareli. This innovative solar carport project will contribute to increased energy efficiency and sustainability at the NTPC site.

These new contracts solidify Sharika Enterprises' position as a leader in India's growing renewable energy sector. With extensive experience in designing and executing large-scale solar projects across diverse geographic locations, Sharika is well-equipped to ensure timely and efficient project completion. The company has a proven track record, having previously supplied and installed 3.5MW of solar rooftop systems and over 10,000 solar street lights across India, serving clients like PGCIL, NTPC, and PEDA. These projects contribute to a sustainable future by reducing carbon emissions and promoting clean energy solutions.

About Sharika Enterprises Ltd

Sharika Enterprises Ltd, boasting a rich legacy of decades in the power sector with expertise in transmission and distribution, is committed to driving innovation and ushering in a transformative era in the industry. Their visionary goal is to evolve the sector into a futuristic 'Smart Grid,' harnessing state-of-the-art technologies and sustainable solutions. The company has also made remarkable strides in the solar power sector. Actively collaborating with governmental bodies, PSUs, schools, private sectors, and more, Sharika Enterprises has successfully implemented a large number of solar PV projects in the last 4-5 years. Their portfolio includes a range of pioneering solar solutions such as Grid-connected solar PV Systems, Off-Grid Solutions, Hybrid Solutions with Battery Backup, Battery Energy Storage Systems, EV Charging Systems, Micro Grids, Real-Time Monitoring of solar Plants and Solar Street Lights.

The stock gave multibagger returns of 176 per cent from its 52-week low of Rs 8.39 per share. Investors should keep an eye on this micro-cap stock.

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