Upper Circuit Alert: Solar Company Bags New Order Worth Rs 11,76,000 From Gujarat Urban Development Company Ltd (GUDCL)
The stock is up over 30 per cent from its 52-week low of Rs 85.65 per share.
On Thursday, shares of Ahasolar Technologies Limited hit a 2 per cent upper circuit to Rs 111.75 per share from its previous closing of Rs 109.60 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 work order from Gujarat Urban Development Company Limited (GUDCL) for consultancy services valued at approximately Rs 11.76 lakh. This contract involves preparing pre-feasibility reports for 48 locations across Gujarat, encompassing site surveys, technical analysis, and financial analysis for the establishment of grid-connected solar photovoltaic projects. The entire consultancy service is expected to be executed within a timeframe of four months.
Earlier, the company has secured a significant domestic consultancy contract from Oil and Natural Gas Corporation Limited (ONGC), valued at approximately Rs 32.25 lakh. This 15-month project entails Ahasolar providing expert consultancy services as both an Energy Efficiency Services Consulting Firm and a Solar Power Consultant for ONGC. This win underscores Ahasolar's growing reputation and expertise in the energy sector, particularly in offering specialised consulting services to major domestic entities.
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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 34 crore. The stock is up over 30 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.