Infra Company Bags Rs 36.50 Crore Solar EPC Order from Siemens Financial Services

On Tuesday, shares of HEC Infra Projects Ltd jumped 1.40 per cent to Rs 114 per share from its previous closing of Rs 112.43 per share. The stock’s 52-week high is Rs 72.20 per share and its 52-week low is Rs 7.69 per share. During the session, the stock surged about 3.89 per cent to its Intraday high of Rs 116.80 per share.

HEC Infra Projects Ltd has announced that it has received a major work order worth Rs 36.50 crore from Siemens Financial Services Private Ltd for a renewable energy project. The contract involves the Engineering, Procurement and Commissioning (EPC) of a 10.4 MW Solar power plant generation system.

Project Scope and TimelineThe order includes the complete development of a grid-interactive solar power facility. As per the company’s disclosure, the project is a domestic contract and is scheduled to be executed within a six-month timeframe from the date of the order.

The management of HEC Infra Projects stated that the new order marks an important milestone for the company and is expected to help elevate it to the next level of growth. The company added that it plans to participate in similar solar and infrastructure projects across different states by bidding for contracts from both private companies and government departments in the future.

Company is an EPC contractor which provides SITC services to multiple governments and private entities. HEC is registered ‘Class A’ EPC contractor with Roads and Building Department of Govt of Gujarat and a Class-1 registered contractor with Central Public Works Department. It has also been awarded contractor license from GETCO. Company works in the field of Electrical, Electro-Mechanical, Civil and Instrumentation work and offers integrated solutions and end-to-end services ranging from design, supply, installation and commissioning of overhead transmission lines, substations, underground cable lying, Switchyard, Water pumping stations, Lighting systems, Industrial and commercial electrification, solar PV plants, battery energy storage system and mini / micro grid Solar projects. Company has executed projects on Turnkey basis for Switchyard up to 220 KV, Overhead transmission line up to 220 KV, and underground cable laying up to 66 KV, Air insulated substations up to 220KV and SCADA systems.

The company has a market cap of over Rs 123.56 crore. The stock price has surged over 276.56 per cent in the last 3 years. The stock has also delivered around 1,382 per cent multibagger returns from its 52-week low of Rs 7.69 per share.

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