There was a 6% jump in the shares of this solar energy company with a market capitalization of ₹ 4,025 crore, will the stock give further profits?

Shares of Oriana Power Limited Surge 6% in Intraday Trading

Oriana Power Limited, a leading solar energy solutions provider, saw its shares climb by 6% in intraday trading, following the announcement of a ₹375 crore work order from Maharashtra State Electricity Distribution Company Ltd (MSEDCL). The stock’s value increased to ₹2,098.45 per share, reflecting a 3% rise from the previous closing price of ₹2,036.60.

Details of New Work Order

The new contract, awarded under the PM-KUSUM scheme, involves the implementation of 75 MW (AC) solar projects, which includes land acquisition and transmission line setup. The project is expected to be completed within 12 months.

About Oriana Power Limited

Oriana Power specializes in various solar energy solutions, including floating solar panels and rooftop systems. With over 250 MWp of solar projects in progress, the company is also venturing into compressed biogas and green hydrogen production, enhancing its market presence.

Company’s Financial Performance

The current share price stands at ₹2,101, with a market capitalization of ₹4,269 crore. The company has reported impressive financial growth, with revenue from operations increasing from ₹135 crore in FY23 to ₹383 crore in FY24, alongside a significant rise in net profit.