APS Share Price Jumps Over 8% On Tuesday As Company Secures Over Rs 100 Crore Maharashtra Solar Order

The Indian equity markets traded higher on Tuesday, with the benchmark Nifty 50 index rising 0.23 per cent to 23,704.40 during the session. Renewable energy and Solar equipment stocks remained in focus amid increasing government-led clean energy and rural electrification initiatives. In this segment, Australian Premium Solar (India)  emerged among the Top Gainers after the company announced receipt of a major solar water pumping systems order from Maharashtra State Electricity Distribution Company Ltd (MSEDCL). On Tuesday, the APS share price surged 8.58 per cent to Rs 363.15.

APS Receives Over Rs 100 Crore Solar Pumping Systems Order

Australian Premium Solar (India)  informed exchanges that the company received a Letter of Empanelment (LOE) from Maharashtra State Electricity Distribution Company  (MSEDCL), a Government of Maharashtra undertaking, for supply, installation and commissioning of Off-Grid Solar Photovoltaic Water Pumping Systems (SPWPS) at identified farmers’ sites across districts in Maharashtra.

The order comprises a total quantity of 5,000 solar photovoltaic water pumping systems with an approximate order value of more than Rs 100 crore. The company stated that the order is expected to enhance its customer base and contribute towards profitability.

According to the filing, the order has been awarded by a domestic entity and execution will be carried out as per the terms of the order. The company also clarified that neither the promoter group nor group companies have any interest in the awarding entity and the transaction does not fall under related party transactions.

Solar Water Pumping Segment In Focus

The solar water pumping systems segment has remained in focus amid increasing adoption of renewable-powered irrigation infrastructure across agricultural states in India. Government-backed schemes aimed at reducing dependence on conventional electricity and diesel-powered irrigation systems have continued supporting deployment of off-grid solar pumping solutions.

The Maharashtra government and distribution utilities have also been expanding implementation of solar irrigation infrastructure under rural electrification and clean energy transition initiatives.

About Australian Premium Solar

Australian Premium Solar (India) Ltd is engaged in manufacturing solar photovoltaic modules and providing solar energy solutions across residential, commercial, industrial and agricultural segments.

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