Solar stock hits 20% upper circuit for the second straight day: Company bags Rs 474 crore order from RRECL; 5.65 times its current market cap
The shares of the company have been hitting a 20 per cent upper circuit for the second straight day and saw a spurt in volume by more than 4.50 times on the BSE.
Raminfo Limited, a Hyderabad-based technology solutions provider, has secured a significant order valued at Rs 474 crore from the Rajasthan Renewable Energy Corporation Limited (RRECL). This substantial contract, awarded through a consortium led by Raminfo, marks the company's strategic foray into smart energy solutions. The comprehensive scope of work encompasses the design, supply, erection, testing and commissioning of Rooftop Solar (RTS) Photovoltaic Power Projects. These projects, with a total capacity of 73 MW, will be installed on state government buildings and their undertakings across Rajasthan under a Hybrid Annuity Mode (HAM), with Raminfo also responsible for their comprehensive operation and maintenance for a period of 25 years. This move aligns with Raminfo's vision for a greener, more sustainable energy future.
To spearhead its initiatives in the energy sector, Raminfo established Raminfo Green Energy Private Limited, a subsidiary incorporated on May 5, 2025, focusing on electricity, gas, steam and air-conditioning supply. This venture is strategically positioned to capitalise on India's burgeoning rooftop solar industry, which reached an installed capacity of 13.7 GW by December 2024 and is projected to hit a market value of USD 4.46 billion by 2033. This growth is propelled by supportive government policies, declining installation and storage costs, per-unit cost savings and increasing awareness of solar energy's benefits. The substantial investments from both central and state governments, as well as the private sector, in green energy are expected to significantly boost overall capacity addition, directly contributing to Raminfo Green Energy's rapid expansion.
L. Srinath Reddy, Managing Director of Raminfo Limited, said, “Raminfo Limited will hold a 51% stake in this project through its SPV Raminfo Green Energy Private Limited, which will execute the project with a total capacity of 73 MW. We offer reliable, innovative and affordable solar energy solutions. Our expertise and our unmatched project execution capabilities help us deliver world-class solutions with the highest standards. Solar is one of the fastest-growing renewable energy sources in the world and with our integrated rooftop solar solutions, we aim to lead the charge of India's energy revolution to achieve rooftop solar targets on state government buildings at various locations in Rajasthan.”
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About the Company
Raminfo Limited (BSE: 530951) is a legacy player with 30 years of experience in e-governance and other tech solutions. They’re a company listed on the BSE. Raminfo serves various sectors across India, including government, fintech, healthcare, smart energy, IoT, analytics and engineering. In the government arena, Raminfo shines with its e-governance, smart lighting, telemedicine and agro-logistics initiatives, alongside skill development and education programs. Embracing its 2.0 evolution, Raminfo harnesses the power of AI and Machine Learning to venture into new frontiers, crafting comprehensive, multi-vertical ecosystems.
On Wednesday, shares of Ram Info Ltd rocketed over 20 per cent upper circuit to Rs 111.19 per share from its previous closing of Rs 92.66 per share. The stock’s 52-week high is Rs 142.90 and its 52-week low is Rs 62. The shares of the company have been hitting a 20 per cent upper circuit for the second straight day and saw a spurt in volume by more than 4.50 times on the BSE.
The company has a market cap of Rs 83.86 crore. Additionally, the company reported positive numbers in its Quarterly Results and annual results. The shares of the company have a PE of 49x whereas the industry PE is 36x. The stock is up by 79.33 per cent from its 52-week low of Rs 62 per share.
Disclaimer: The article is for informational purposes only and not investment advice.