Rs 230 Crore Investment: Solar Penny Stock Under Rs 75 Enters into Power Purchase Agreement with Government of Uttar Pradesh

The company has a market cap of over Rs 200 crore and the stock is up by 10 per cent from its 52-week low of Rs 63.01 per share.

Bhagyanagar India Limited is progressing with its solar power initiatives in Uttar Pradesh. Following previous announcements in February and March 2025, the company confirms that its subsidiary, Crescentia Technology Private Limited, has now entered into a significant power purchase agreement. This 25-year agreement with the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) marks a crucial step towards implementing the eleven Letters of Awards for a total capacity of 65.7 MW of Solar Power Generator projects secured under the PM KUSUM scheme.

This development signifies a substantial commitment by Bhagyanagar India Limited, with an anticipated overall investment of Rs 230 crore. The establishment of Crescentia Technology Private Limited as a Special Purpose Vehicle underscores the company's strategic approach to execute these grid-connected solar power plants under the feeder-level solarisation program. This power purchase agreement paves the way for the long-term generation and supply of solar energy in the region.

Bhagyanagar India Ltd, incorporated in 1985, manufactures copper and copper alloy products, serving primarily Original Equipment Manufacturers (OEMs). Beyond its core copper business, the company has diversified into telecom and solar products, real estate, and the non-conventional energy sector with a solar & wind power project.

On Friday, shares of Bhagyanagar India Ltd plunged 2.11 per cent to Rs 69.04 per share from its previous closing of Rs 70.53 per share. The company has a market cap of over Rs 200 crore and the stock is up by 10 per cent from its 52-week low of Rs 63.01 per share.

Disclaimer: The article is for informational purposes only and not investment advice.