Power company gets a big order of Rs 765 crore

Business Business: Shares of Premier Energies Limited were in the headlines during trading on Monday. The company’s shares rose 10% today. Shares of Premier Energy today hit a high of Rs 1,217 against the previous close of Rs 1,107.10. There is a big order behind this rise in the stock. In fact, the company said that its subsidiaries Premier Energy International Private Limited and Premier Energy Photovoltaic Private Limited have received several orders worth a total of ₹ 765 crore. This includes orders of ₹ 632 crore for solar modules and ₹ 133 crore for solar cells. The power equipment company said that the delivery of these modules and cells will start in July 2025. There are orders from eight domestic customers and one foreign customer. Following the announcement, shares of Premier Energies Limited rose 9.9% to an intraday high of ₹ 1,217 on the BSE. On October 8, Premier Energies informed the stock exchanges that it has signed a module supply agreement (MSA) with BN Hybrid Power-1 Pvt Ltd, a special purpose vehicle (SPV) of Brightnite India.

Under the agreement, Premier Energies will supply 173.35 MW of solar panels using Topcon technology for BN Hybrid Power’s 300 MW Solid Dispatchable Renewable Energy (FDRE) energy storage project in Barmer, Rajasthan. The delivery of these modules is scheduled to begin in July 2025, the company said.

These stocks have given returns of up to 40% this year. The stock is up 40% in six months and is trading 5% up in one month. The stocks gained 20% in five days. The company’s stock has a 52-week high price of Rs 1,264.90 and a 52-week low price of Rs 801.60. The market capitalization is Rs 51,870.61 crore.