Vikran Engineering Share Price Spikes Over 15% After Major Order Win
Vikran Engineering Ltd’s share price rose over 15.36% on Wednesday after the company bagged an order worth Rs 2,035.26 crore a day earlier from Onix Renewables, a special purpose vehicle (SPV), for the development of 600 MW AC solar power projects across multiple locations in the state of Maharashtra.
About the Order
The company in an exchange filing said that the work order, accepted on December 23, entails execution of the project on a turnkey EPC basis, covering end-to-end activities including design, engineering, procurement, supply, erection, testing, and commissioning. The scope of work also includes the supply of key components such as solar PV modules and inverters.
The project is expected to be completed within a 12-month timeline. This significant order win is expected to boost the company’s revenue and profitability in the coming quarters. Investors can track the company’s progress and updates on Vikran Engineering news and Vikran Engineering share price.
Company Profile
Vikran Engineering’s portfolio covers a spectrum of essential services, ranging from infrastructure projects to Power Transmission and EHV substations reaching up to 765kV. The company specializes in ensuring Power Distribution, handling every aspect from the 33/11kV Substation to the end consumer’s meter connection, it said on its website. For more information on the company’s services, visit Vikran Engineering services.
Market Reaction
The scrip rose as much as 15.36% to Rs 99.96 apiece. It pared gains to trade 11.24% higher at Rs 96.39 apiece, as of 09:44 a.m. This compares to a 0.13% advance in the NSE Nifty 50 Index. The stock has risen 0.71% in the last 12 months. Total traded volume so far in the day stood at 20 times its 30-day average. The relative strength index was at 52.
Investors can stay updated on the NSE Nifty 50 Index and other market trends on our website. We also provide detailed analysis and insights on Indian stock market news and stock market tips.
Investment Opportunities
The renewable energy sector is expected to witness significant growth in the coming years, driven by government initiatives and increasing demand for clean energy. Investors looking to invest in this sector can consider renewable energy stocks and solar power stocks. We provide detailed analysis and recommendations on stock market investment opportunities.
Conclusion
In conclusion, Vikran Engineering’s major order win is a significant positive development for the company and its investors. The company’s strong portfolio and expertise in the renewable energy sector position it well for future growth. Investors can stay updated on the company’s progress and market trends on our website.