Debt-free solar company receives new orders worth Rs 8,00,00,000 from Goa Costal and Environment Management Society (GC&EMS)
The stock is up by 82.2 per cent from its 52-week low of Rs 203 per share.
Ahasolar Technologies Limited has been busy securing consultancy contracts in the renewable energy sector. In a major development, the company has secured an Rs 8 crore contract from Goa Costal and Environment Management Society (GC&EMS), a domestic entity within India. This contract pertains to the development of a Unified Single Window Portal functioning on a Software as a Service (SaaS) Model. This collaboration between Ahasolar Technologies Limited and GC&EMS is expected to span over five years, signifying a substantial and promising opportunity for the company.
Earlier, the company acquired a 16-month domestic consultancy project valued at Rs 40 lakh from HPCL Renewable and Green Energy Limited. This project involves providing comprehensive consultancy services for the development of DFR Floating Solar projects at three HPCL locations (Nachana, HRRL Pachpadra, and Vizag Refinery). Ahasolar's role will encompass tender preparation and evaluation, project management consultancy, and site supervision. Furthermore, the company was previously awarded a 9-month domestic consultancy contract valued at Rs 45 lakh by GIZ GmbH, an international entity. This project tasked Ahasolar with planning and developing electric vehicle (EV) charging infrastructure and an online platform for the Gujarat Energy Development Agency (GEDA).
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Ahasolar Technologies Limited is engaged in the business of cleantech enabling energy transition through digital transformation. The company has a market capitalization of over Rs 110 crore and is currently debt-free.
On Tuesday, shares of Ahasolar Technologies Ltd were locked in a 5 per cent upper circuit to Rs 369.90 per share from its previous closing of Rs 352.30. The stock’s 52-week high is Rs 657.75 and its 52-week low is Rs 203. The stock is up by 82.2 per cent from its 52-week low of Rs 203 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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