India’s 2nd Largest Solar Cell Co Wins Rs 560 Cr Orders, Shares To Be In Spotlight

Leading company engaged in electrical equipment industry, Premier Energies Ltd shares are likely to remain in the spotlight on Monday after the company informed today about receiving orders worth Rs 560 crore. The stock closed with gains of 5.60% on Bombay Stock Exchange (BSE) at Rs 1076.65 per share on November 1, 2024. The firm's market capitalisation stood at Rs 48,532.62 crore, according to BSE. Premier Energies Ltd shares surged over 13% in last 1-week and fell over 1% in last 2-weeks.

Premier Energies stock made a bumper debut on the bourses on September 3, 2024. Its shares were listed at Rs 991 on BSE with a huge premium of 120.22% over the upper end of its issue price of Rs 450. While on the NSE, Premier Energies shares opened at Rs 990, with a premium of 120%. Check details below:

Premier Energies Wins New Order

As per the exchange filing of Premier Energies dated November 2, 2024, "we hereby inform you that Premier Energies International Private Ltd. & Premier Energies Photovoltaic Private Ltd, the subsidiaries of Premier Energies Limited, have received and accepted multiple orders aggregating to INR 560.00 Crore from 2 large Independent Power Producer (IPP) and others. These orders include INR 513.00 Crores for Solar Modules and INR 47.00 Crores for Solar Cells. The supply of these modules is scheduled to commence from December 2024."

Earlier Order In October
Earlier, the company on October 14 informed, "Premier Energies International Private Ltd. and Premier Energies Photovoltaic Private Ltd., both subsidiaries of Premier Energies Limited, have received and accepted multiple orders from various customers amounting to a total value of INR 765 crore. These orders comprise INR 632 crore for solar modules and INR 133 crore for solar cells. The supply of these modules is scheduled to commence in July 2025."

Premier Energies Shares Performance

Premier Energies shares slipped 3% in last 1-month. The 52-week high price of Premier Energies shares on BSE is Rs 1264.90 per share (as on 10/09/2024) and 52-week low price is Rs 801.60 per share (as on 03/09/2024), respectively.
Premier Energies About: Established in 1995, Premier Energies is an integrated solar cell and solar module manufacturing company. Backed by GEF Capital, a Washington DC based Private Equity Investor, Premier Energies is at the forefront of innovative technology, crafting photovoltaic products and solutions. Premier Energies' cutting-edge manufacturing units are spread across three locations in Telangana, totaling an aggregate land area of over 44.91 acres. Premier Energies is the second largest integrated player in India at the end of FY24, according to its official website.

Disclaimer: The stock highlights the order win and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.