Penny stock under Re 1 hit upper circuit after receiving order of Rs 262.10 crore from a leading renewable energy company in India engaged in solar power development

Dharan Infra-EPC Limited, through its wholly-owned subsidiary Dharan Infra Solar Pvt Ltd., has been awarded a contract worth approximately Rs 262.10 crore from a major renewable energy company. The contract involves the development of a grid-connected solar power plant in Uttar Pradesh, specifically for the solarisation of agricultural feeders at various distribution substations. The company has not disclosed the name of the awarding entity to maintain commercial confidentiality. The project's execution is scheduled to be completed by April 30, 2026, and the revenues and liabilities from the contract will be consolidated into Dharan Infra-EPC Limited's financial statements.

Earlier, the company received contracts with an aggregate value of approximately Rs 1,171.21 crore from Skymax Infra Power Limited. The contracts, which are for EPC works and supply and installation at the Orvakal Industrial Park in Andhra Pradesh, are scheduled for execution until March 31, 2027. A significant portion of the work, approximately 80 per cent, involves the international procurement of plant and machinery, which will be handled by the company's subsidiaries.

Dharan Infra-EPC Ltd (formerly known as KBC Global Ltd), established in 2007, focuses on real estate construction, development, and civil contracts (EPC). The company primarily builds residential and commercial projects but has recently expanded into large-scale infrastructure like railways, roads, bridges, and ports, and even renewable energy through Dharan Infra Solar Pvt Ltd.

On Tuesday, shares of Dharan Infra-EPC Ltd (formerly known as KBC Global Ltd), hit a 2 per cent upper circuit to Re 0.49 per share from its previous closing of Rs 0.48 per share. The company has a market cap of over Rs 250 crore and the stock is up by 44.12 per cent from its 52-week low of Re 0.34 per share. In March 2025, FIIs sold 49,64,107 shares or 0.19 per cent stake of the company.

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