Solar stock surged after securing a ₹59 crore order for a compressed biogas plant in Uttar Pradesh.
Solar Stock: The share price of Oriana Power Ltd, a solar company specializing in solar power projects EPC and operations, surged by 2 percent on Tuesday following a significant order worth Rs. 59 crore from a Renewable Energy Developer in Uttar Pradesh.
During Wednesday’s trading session, Oriana Power Ltd’s market capitalization stood at Rs. 3,793.59 crores. The share price reached a day’s high of Rs. 1,958, marking a 1.78 percent increase. However, it later dropped to Rs. 1,867, which was 3.01 percent lower than the previous closing price of Rs. 1,850. Over the past year, the stock has delivered an impressive return of around 191 percent, outperforming the Nifty Index.
The surge in the company’s stock price was driven by a commercial order from a Domestic Renewable Energy Developer in Prayagraj, Uttar Pradesh, worth Rs. 59 crore for the development of a Compressed Bio Gas (CBG) plant with a daily production capacity of 21 tons. This order further solidifies Oriana’s position in the renewable energy sector, with a 12-month timeline for contract execution.
Oriana Power Ltd boasts an order book of over 500 MW, including recent orders from a prominent cement manufacturer in Tamil Nadu for 128MWp. The company is also engaged in developing India’s largest Agro-Photovoltaic project in Delhi and constructing its first solar park in Rajasthan with a capacity of 250MW, aiming to reach 1 GW capacity.
Established in 2013, Oriana Power specializes in providing innovative solar energy solutions for industrial and commercial sectors, having successfully executed numerous projects in India and Kenya.
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