Small Cap Company Under Rs 100 Soars 19% as It Bags Order for 600 MW Solar Project
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AHAsolar Technologies Limited shares jumped nearly 19% intraday after the company secured a consultancy order for a 600 MW solar power project with a 1,800 MWh energy storage system in Rajasthan.
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AHASolar Technologies Limited shares surged nearly 19% during Monday's trading session after the company received a work order from NLC India Renewables Limited for consultancy services related to a 600 MW solar power project in Rajasthan.
The project will include a 300 MW/1,800 MWh Energy Storage System (ESS) and is expected to be executed over a period of 27 months.
AHAsolar Technologies Receives Order From NLC India Renewables
AHAsolar Technologies Limited has received a work order from NLC India Renewables Limited (NIRL) for providing consultancy services for the development of a 600 MW solar power project with a 300 MW/1,800 MWh Energy Storage System in Rajasthan.
The order has been awarded by a domestic entity and falls under the company's consultancy services business.
As per the company's disclosure, the execution period for the order is 27 months.
The project is significant as it combines large-scale solar generation with energy storage infrastructure. Energy storage systems can help manage the intermittent nature of renewable power and support the availability of electricity when solar generation is lower.
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AHAsolar Technologies Share Price Performance
The shares of AHAsolar Technologies Limited opened in the red at Rs 69.11, compared with the previous closing price of Rs 70.52. However, the stock witnessed strong buying interest during the session and touched an Intraday high of Rs 84.00. At the day's high, the stock was up 19.11 per cent compared with its previous close.
Later, the stock witnessed profit booking and consequently closed at Rs 75.
About AHAsolar Technologies Limited
AHAsolar Technologies Limited operates in the distributed solar photovoltaic (PV) segment and focuses on building digital solutions for the solar energy ecosystem.
The company was founded as a start-up in July 2017 and has developed a digital ecosystem serving government bodies, solar installers and manufacturers.
Its business is focused on technology-led solutions for the solar industry, with the company positioning itself around the growing adoption of renewable energy and distributed solar power in India.
Disclaimer: The article is for informational purposes only and not investment advice.