Multibagger Solar Stock Hit Upper Circuit As Company Bags 32 MW (AC) Order From Maharashtra State Electricity Distribution Company Ltd

The stock is up by 61 per cent from its 52-week low of Rs 140.85 per share and gave multibagger returns of 6,700 per cent since listing in 2005.

On Wednesday, shares of Bhageria Industries Ltd hit 5 per cent upper circuit Rs 226.45 per share from its previous closing of Rs 215.70 per share. The stock is up by 61 per cent from its 52-week low of Rs 140.85 per share and gave multibagger returns of 6,700 per cent since listing in 2005.

Bhageria Industries Ltd. has been awarded a Letter of Award (LoA) to develop solar photovoltaic power generating stations with an aggregate capacity of 32 MW(AC) under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 scheme. The order was awarded by the Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL), which will purchase the generated power for 25 years from the commercial operation date. The project is a domestic order for power generation and is expected to be executed over a period of 25 years. The total consideration for the project is 32 MW(AC).

Bhageria Industries Ltd., established in 1989, is a diversified chemical and solar power company. With certifications like OHSAS 45001, ISO 14001, and ISO 9001, BIL specializes in manufacturing dyes, dye intermediates, and solar power generation, distribution, and EPC contracts. Their product portfolio includes dyes, intermediates, pigments, and dyestuffs. BIL has significant manufacturing capacities for key dye intermediates like Vinyl Sulphone and H-acid, as well as Sulphuric Acid. Additionally, they have commissioned solar power plants in Chennai and Ahmednagar, entering into long-term power purchase agreements with reputable entities. Their clientele includes prominent players like Everlight Chemical and Huntsman International.

The company has a market cap of 900 crore and has been maintaining a healthy dividend payout of 25.30 per cent. Investors should keep an eye on this micro-cap stock.

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