Solar stock hit 52-week low despite bagging orders worth Rs 750 crore from Jaipur Vidyut Vitran Nigam Ltd (JVVNL) and Ajmer Vidyut Vitran Nigam Ltd (AVVNL)

DSIJ Intelligence-1 / 15 Sep 2025/ Categories: Multibaggers, Trending

Solar stock hit 52-week low despite bagging orders worth Rs 750 crore from Jaipur Vidyut Vitran Nigam Ltd (JVVNL) and Ajmer Vidyut Vitran Nigam Ltd (AVVNL)

On Monday, shares of Insolation Energy Ltd plunged 2.7 per cent and hit a 52-week low of Rs 189.95 per share from its previous closing of Rs 267 per share.

Insolation Energy Limited's wholly-owned subsidiary, Insolation Green Energy Private Limited, has been awarded a Letter of Intent (LOI) by Jaipur Vidyut Vitran Nigam Limited (JVVNL) and Ajmer Vidyut Vitran Nigam Limited (AVVNL). The LOI is for the design, survey, supply, installation, testing, commissioning, and a 25-year operation and maintenance contract for grid-connected solar power plants. These projects fall under the PM-KUSUM Component A Scheme. The company will establish plants across 20 sites for JVVNL and 115 sites for AVVNL, with a total capacity of 226.45 MW. This is a significant domestic project.

The awarded projects will require an investment of approximately Rs 750 crore, including GST, and are scheduled for execution within the financial year 2026-27. The solar power plants will operate on a RESCO (Renewable Energy Service Company) model. The final levelized tariffs for the electricity generated vary, ranging from Rs 2.60 to Rs 3.04 per unit across the different sites. The contract also includes the provision of associated 11 kV lines to connect the plants to the 33/11 kV substations and a remote monitoring system. The long-term nature of the 25-year operation and maintenance contract highlights the project's extended scope and commitment.

DSIJ’s 'multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.

Incorporated in 2015, Insolation Energy Ltd specialises in manufacturing high-efficiency solar panels and modules, operating a 200 MW SPV Module manufacturing unit in Jaipur, which spans over 60,000 sq. ft. and is equipped with advanced machinery. Notably, the company holds the position of the second-largest North Indian manufacturer of solar panels, batteries, and inverters, based in Jaipur, Rajasthan.

On Monday, shares of Insolation Energy Ltd plunged 2.7 per cent and hit a 52-week low of Rs 189.95 per share from its previous closing of Rs 267 per share. The stock gave multibagger returns of 375 per cent in 2 years.

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