Upper Circuit Alert: Solar Company Bags New Order Worth Rs 16,51,000 From HPCL Renewable and Green Energy Ltd
The stock is up 26.27 per cent from its 52-week low of Rs 85.65 per share.
On Wednesday, shares of Ahasolar Technologies Limited hit a 5 per cent upper circuit to Rs 108.15 per share from its previous closing of Rs 103 per share. The stock’s 52-week high is Rs 537.45 per share and its 52-week low is Rs 85.65 per share.
Ahasolar Technologies Limited has secured a domestic consultancy contract from HPCL Renewable and Green Energy Limited, valued at approximately Rs 16.51 lakh. The work order entails providing comprehensive consultancy services, including Detailed Feasibility Reports (DFR), preparation of tender documents, Project Management Consultancy (PMC), and site supervision for various projects located across Rajasthan and Uttar Pradesh. This engagement is set to be executed within a timeframe of 18 months, further solidifying Ahasolar Technologies' position in providing crucial support for renewable and green energy initiatives within India.
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About the Company
Ahasolar Technologies Ltd., incorporated in 2017 and recognised by DPIIT as a CleanTech startup, provides digital solutions and advisory services in the renewable energy sector. The company offers SaaS products, including an AI-based Solar Digital Platform, to streamline processes for solar companies, governments, and other stakeholders. These products facilitate PV design, project management, generation monitoring and include an integrated digital marketplace for solar products.
Ahasolar's business model is SaaS-based, generating revenue through online subscriptions and transaction margins within its marketplace. The company also secures contracts from public and private sector entities for advisory services related to renewable energy adoption at distributed and utility-scale projects, encompassing roadmap preparation and development of solar power plants. The company has a market capitalisation of over Rs 30 crore. The stock is up 26.27 per cent from its 52-week low of Rs 85.65 per share.
Disclaimer: The article is for informational purposes only and not investment advice.