Ashish Kacholia Bought 1,21,600 Shares: Multibagger Solar Company Bags Order Worth Rs 208,31,97,917 From Zetwerk Manufacturing Business Pvt Ltd
The stock gave multibagger returns of 105 per cent in just 6 months and a whopping 600 per cent in 1 year.
On Friday, shares of the solar company plunged 137 per cent to Rs 3,498 per share from its previous closing of Rs 3,546.50. The stock’s 52-week high is Rs 3,979.85 while its 52-week low is Rs 435.20. The stock gave multibagger returns of 105 per cent in just 6 months and a whopping 600 per cent in 1 year.
The buzzing solar company is INSOLATION ENERGY LTD.
Insolation Green Energy Private Limited, a wholly-owned subsidiary of Insolation Energy Ltd, has awarded a purchase order to Zetwerk Manufacturing Business Private Limited for the supply of 550 Wp solar PV modules at the NTPC Khavada Gujarat site. The order, valued at Rs 208,31,97,917 (including GST), is for a domestic supply and is expected to be executed within the fiscal year 2024-25.
Earlier, the company's wholly-owned subsidiary, Insolation Green Energy Private Limited, was awarded a significant contract to supply Solar PV Modules. The contract was granted by a domestic entity, Rays Green Energy Manufacturing Private Limited. The specific terms of the agreement include the supply of 545WP SPV Panels. The order is a domestic contract and is expected to be completed within the current financial year (FY 2024-25). The total value of the contract, including GST, is Rs 34,21,08,979.60.
Furthermore, an ace investor, Ashish Kacholia’s company - Bengal Finance & Investment Pvt Ltd bought 1,21,600 shares via preferential issue for Rs 3287 per share aggregating to approx. Rs 40 crore.
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Insolation Energy Ltd, founded in 2015, is a leading manufacturer of high-efficiency solar panels and modules. Based in Jaipur, India, the company operates a 200 MW manufacturing facility and has recently announced plans to expand its capacity to 500 MW through a subsidiary. In addition to manufacturing, Insolation Energy also provides solar power conditioning units, lead-acid batteries, and EPC services. Its major domestic customers include Livguard Energy Technologies Pvt Ltd, Livfast Batteries Pvt Ltd, Shakti Pumps India Ltd, Microtek International Pvt Ltd, Sunroof Tech Pvt Ltd, etc.
Insolation Energy Ltd has achieved substantial growth in solar panel module manufacturing, with a remarkable 150 per cent year-over-year volume increase. Despite market price fluctuations, the company has maintained and improved its profitability through efficient operations and a diversified customer base. To sustain growth, Isolation is expanding its manufacturing capacity and pursuing strategic partnerships. By focusing on technological advancements and strategic investments, Isolation aims to become a leading player in the solar energy industry, achieving significant revenue and profitability targets within the next few years.
Investors should keep an eye on this solar stock.
Disclaimer: The article is for informational purposes only and not investment advice.