Solar Penny Stock Under Rs 20: Power Sector Micro-Cap Company Signed Mou With Russian Engineering Firm To Improve Power System

The stock gave returns of 78 per cent in just 1 year and 220 per cent in last 5 years.

Sharika Enterprises Ltd has signed an agreement with Russian engineering firm Engineering Center Energoservice (ENS) to improve India's power system. The partnership will bring advanced monitoring and automation solutions to enhance the reliability and safety of India's electrical grids.

With this agreement, Sharika Enterprises gets exclusive rights to market and distribute ENS's power grid protection and monitoring systems, including transformer condition monitoring solutions, across India. These solutions use real-time data to prevent grid failures and expensive downtime.

Speaking on the occasion Mr. Rajinder Kaul, Chairman and Managing Director of Sharika Enterprises said, "We are honoured to collaborate with Engineering Center Energoservice, a digital power technologies leader and this partnership is a major milestone in our quest to upgrade India's power grid infrastructure. Together, we look forward to introduce innovative technologies in India and provide an efficient, sustainable and dependable power system benefitting the industries across the spectrum."

Fleyshman Igor L., General Director at Engineering Center Energoservice added, "We look forward to co-operating with Sharika Enterprises, which is wellacquainted with and experienced in the Indian power sector. Sharika's proven experience in the Indian market and familiarisation with Indian requirements makes it an optimum fit as a business partner for us. Together we aim to build robust power grid in India and meet the country's energy efficiency initiatives."  

A key product of this collaboration is the Intelligent Digital Device (ENIP-2), which helps in power measurement and monitoring. The agreement also focuses on Wide Area Monitoring Systems (WAMS) to make grids more stable.

Sharika Enterprises and ENS are discussing setting up a manufacturing plant in India, either through a technology transfer or a joint venture. This will support the ‘Make in India’ initiative and help lower costs for Indian power utilities.

Incorporated in 1998, Sharika Enterprises Ltd is in the business of Management Consultancy & Project Execution Services in Power sector

On Thursday, shares of Sharika Enterprises Ltd jumped over 1.5 per cent to Rs 18 per share from its previous closing. The stock gave returns of 78 per cent in just 1 year and 220 per cent in last 5 years. Investors should keep an eye on this micro-cap stock. 

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