Solar water pump manufacturing stock rockets 17.94 per cent in just 1 day; Earlier, bagged orders worth Rs 64.25 crore from DGVCL & MEDA
The stock is up by 84.50 per cent from its 52-week low of Rs 342 per share.
On Thursday, one of the Top Gainers on NSE, shares of Sahaj Solar Ltd rocketed 17.94 per cent to an intraday high of Rs 666 per share from its previous closing of Rs 564.70 per share. The stock’s 52-week high is Rs 790 while its 52-week low is Rs 342. At the closing bell, shares of the company were trading at Rs 631 per share, up 11.74 per cent with a spurt in volume by 2 times.
Sahaj Solar Limited has secured a Rs. 16.03 crore (inclusive of GST) contract from Dakshin Gujarat Vij Co. Ltd. (DGVCL) to design, manufacture, supply, transport, install, test, and commission off-grid standalone solar photovoltaic water pumping systems under Component-B of the PM-KUSUM scheme. This domestic order, awarded to the company, entails project completion by March 2025, and Sahaj Solar Limited has subsequently agreed with DGVCL to formalize the arrangement.
Additionally, the company secured a Rs 48.22 crore (inclusive of GST) order from the Maharashtra Energy Development Agency (MEDA) for a turnkey off-grid solar photovoltaic water pumping system (SPWPS) for irrigation purposes under MNRE Component B of the PM-KUSUM scheme. This domestic order involves the design, manufacture, supply, transport, installation, testing, and commissioning of the system.
DSIJ’s 'multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
Sahaj Solar Limited is a renewable energy company established in 2010. Their primary operations involve manufacturing solar PV modules at their 100 MW capacity plant in Bavla, Ahmedabad, Gujarat. This facility produces mono and polycrystalline modules, including advanced PERC technology, for domestic and international solar projects. Additionally, the company specializes in providing solar water pumping systems and offers comprehensive EPC services across India, ranging from small residential installations to large-scale solar power plants.
The company has a market cap of Rs 693.22 crore and shares have an ROE of 53 per cent and an ROCE of 40 per cent. The stock is up by 84.50 per cent from its 52-week low of Rs 342 per share. Investors should keep an eye on this solar pump stock.
Disclaimer: The article is for informational purposes only and not investment advice.
Also Read: 1,15,000 per cent returns & Rs 76,705 crore order book: Multibagger defence company bags new orders worth Rs 1,155 crore from Cochin Shipyard Ltd & others