Solar Penny Stock Under Rs 40 Hit Upper Circuit After Receiving 43,50,00,000 Order from Bondada Engineering Ltd
The company has a market cap of Rs 692.45 per share and the stock is up by 58.6 per cent from its 52-week low of Rs 25.18 per share.
Suratwwala Business Group Limited (SBGL) has announced that its subsidiary, Suratwwala Natural Energy Resource Private Limited, has been awarded a significant 30 MW AC EPC (Engineering, Procurement, and Construction) basis order by Bondada Engineering Limited. The contract is signed for the design, engineering, supply (excluding PV modules), unloading of PV modules at the site, erection, testing, and commissioning of a 30 MWAC cumulative capacity crystalline ground-mounted solar PV technology grid-interactive distributed agriculture feeder solarisation plant under the MSKVY 2.0 scheme in Maharashtra, India.
This domestic EPC contract has a broad commercial consideration of Rs 43.50 crore. The project's execution will involve a detailed, mutually agreed-upon work schedule, with all activities, including both supplies and services, to be completed within an agreed-upon timeframe of three years. This order highlights SBGL's continued expansion in the renewable energy sector.
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About the Company
Incorporated in 2008, Suratwwala Business Group Ltd (SBGL) is a diversified entity engaged in real estate development in the Pune region, encompassing residential, commercial, and IT park projects, along with property rental services. Beyond construction, SBGL is also active in solar power generation, installing and commissioning solar plants for various clients under both Power Purchase Agreements and EPC models. Additionally, the company provides business auxiliary services, offering end-to-end real estate support to clients seeking to buy or lease properties.
On Thursday, shares of SBGL hit a 2 per cent upper circuit to Rs 39.93 per share from its previous closing of Rs 39.15 per share. The stock’s 52-week high is Rs 143.05 per share and its 52-week low is Rs 25.18 per share. The company's shares have an ROE of 80 per cent and an ROCE of 55 per cent. The company has a market cap of Rs 692.45 per share and the stock is up by 58.6 per cent from its 52-week low of Rs 25.18 per share.
Disclaimer: The article is for informational purposes only and not investment advice.