Solar Penny Stock Under Rs 40 In Focus As Company Bags New Order Worth Rs 2,37,98,780 From Bhartiya Reserve Bank Note Mudran (P) Ltd
The stock is up by 14.53 per cent from its 52-week low of Rs 32 per share.
Agni Green Power Ltd. has secured a significant contract from Bhartiya Reserve Bank Note Mudran (P) Limited, a wholly-owned subsidiary of the Reserve Bank of India. The contract, valued at Rs 2,37,98,780 (inclusive of GST), entails the design, supply, installation, commissioning, testing, and training for a 410 kW (AC Capacity)/460 KWP (DC Capacity) Ground Mounted Solar Photovoltaic Power Plant (without Battery Bank - Grid Interactive) at BRBNMPL Salboni. This domestic order mandates the complete installation and testing of the solar power plant within 180 days from the date of the contract agreement.
Incorporated in 1995, Agni Green Power Limited is engaged in the business of executing turn-key solar PV power plant projects. The company has two lines of business, including solar power plant designing, engineering, supply, procurement, construction, installation and commissioning (I&C), maintenance services, manufacturing and assembling of solar lighting systems, and other solar products.
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Talking about the financials, Agni Green Power has a market cap of over Rs 123.75 crore. According to half-yearly results, the net sales increased by 272.53 per cent to Rs 17.36 crore and net profit increased by 164.21 per cent to Rs 2.53 crore in H2FY23 compared to H2FY22. As of June 2023, the promoters own a 70.57 per cent stake in the company and the rest 29.43 per cent stake is owned by the general public.
Today, shares of Agni Green Power Ltd plunged 3.43 per cent to Rs 36.65 per share from its previous closing of Rs 37.95 per share. The stock’s 52-week high is Rs 84.70 and its 52-week low is Rs 32. The stock is up by 14.53 per cent from its 52-week low of Rs 32 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.