Oriana Power shares rise 14% on Rs 100-crore order win
Oriana Power shares rose 13.72% to Rs 387 against the previous close of Rs 340.30 on NSE. The stock is not listed on BSE.
- Sep 11, 2023,
- Updated Sep 11, 2023 2:11 PM IST
Shares of Oriana Power Ltd, a renewable energy solutions provider, zoomed nearly 14% today after the firm said it has bagged an order worth Rs 100.2 crore for setting up of a 29MW captive open access solar power plant for a renowned steel manufacturing company based out of Karnataka.
Oriana Power shares rose 13.72% to Rs 387 against the previous close of Rs 340.30 on NSE. The stock is not listed on BSE. Market cap of the firm rose to Rs 715.51 crore. A total of 5.96 lakh shares changed hands amounting to a turnover of Rs 22.45 crore on NSE.
In terms of technicals, the relative strength index (RSI) of the stock stands at 52.3, signaling it's trading neither in the overbought nor in the oversold zone. The contract is for the supply of a 29MW turnkey Engineering, Procurement, and Construction (EPC) project.
Oriana Power will manage each phase of the project's lifecycle, including design, engineering, supply, and installation, with an anticipated completion timeframe of 5 months. In addition, Oriana Power will deliver one year of specialised operation and maintenance services.
The Delhi-based firm said this project win aligns seamlessly with the company's commitment to advancing positive environmental change and reinforcing its reputation as a dependable provider of sustainable energy solutions, thereby bolstering the nation's journey towards a more sustainable energy future.
Disclaimer: This article is for informational purpose only. Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Please consult your financial advisor or a qualified stock market expert before taking any position in the mentioned stock or stocks. Business Today will not be responsible for losses arising from trading or investing in these stocks.
Also read: Hot stocks on September 11, 2023: Adani Power, Coffee Day, IRFC, Mazagon Dock, IRCON and more
Shares of Oriana Power Ltd, a renewable energy solutions provider, zoomed nearly 14% today after the firm said it has bagged an order worth Rs 100.2 crore for setting up of a 29MW captive open access solar power plant for a renowned steel manufacturing company based out of Karnataka.
Oriana Power shares rose 13.72% to Rs 387 against the previous close of Rs 340.30 on NSE. The stock is not listed on BSE. Market cap of the firm rose to Rs 715.51 crore. A total of 5.96 lakh shares changed hands amounting to a turnover of Rs 22.45 crore on NSE.
In terms of technicals, the relative strength index (RSI) of the stock stands at 52.3, signaling it's trading neither in the overbought nor in the oversold zone. The contract is for the supply of a 29MW turnkey Engineering, Procurement, and Construction (EPC) project.
Oriana Power will manage each phase of the project's lifecycle, including design, engineering, supply, and installation, with an anticipated completion timeframe of 5 months. In addition, Oriana Power will deliver one year of specialised operation and maintenance services.
The Delhi-based firm said this project win aligns seamlessly with the company's commitment to advancing positive environmental change and reinforcing its reputation as a dependable provider of sustainable energy solutions, thereby bolstering the nation's journey towards a more sustainable energy future.
Disclaimer: This article is for informational purpose only. Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Please consult your financial advisor or a qualified stock market expert before taking any position in the mentioned stock or stocks. Business Today will not be responsible for losses arising from trading or investing in these stocks.
Also read: Hot stocks on September 11, 2023: Adani Power, Coffee Day, IRFC, Mazagon Dock, IRCON and more