Premier Energies shares rise 10% in early deals; here's why
Premier Energies shares rose 9.92% to Rs 1217 against the previous close of Rs 1107.10 on BSE. Market capitalisation (m-cap) of the firm rose to Rs 52,402 crore.
- Oct 14, 2024,
- Updated Oct 14, 2024 11:51 AM IST
Shares of Premier Energies rose 10% in today after the electrical equipment firm said its subsidiaries won orders worth Rs 765 crore. The stock rose 9.92% to Rs 1217 against the previous close of Rs 1107.10 on BSE. Around 2.14 lakh shares changed hands amounting to a turnover of Rs 25 crore on BSE today. Market capitalisation (m-cap) of the firm rose to Rs 52,402 crore.
"We hereby inform you that 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 Rs 765 crore. These orders comprise Rs 632 crore for solar modules and Rs 133 crore for solar cells, " said Premier Energies.
The supply of these modules is scheduled to commence in July 2025.
Multiple orders have been received from 8 domestic customers and 1 foreign customer.
The initial public offering (IPO) of Premier Energies was open from August 27 to August 29. The company raised about Rs 2,830.40 crore through its share sale, which included a fresh share sale of Rs 1,291.40 crore and an offer for sale of 3.42 crore shares.Premier Energies manufactures integrated solar cells and solar panels. Its product portfolio includes cell, solar modules, bifacial modules, EPC solutions and O&M solutions. It has five manufacturing units, all of which are situated in Hyderabad, Telangana.
Shares of Premier Energies rose 10% in today after the electrical equipment firm said its subsidiaries won orders worth Rs 765 crore. The stock rose 9.92% to Rs 1217 against the previous close of Rs 1107.10 on BSE. Around 2.14 lakh shares changed hands amounting to a turnover of Rs 25 crore on BSE today. Market capitalisation (m-cap) of the firm rose to Rs 52,402 crore.
"We hereby inform you that 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 Rs 765 crore. These orders comprise Rs 632 crore for solar modules and Rs 133 crore for solar cells, " said Premier Energies.
The supply of these modules is scheduled to commence in July 2025.
Multiple orders have been received from 8 domestic customers and 1 foreign customer.
The initial public offering (IPO) of Premier Energies was open from August 27 to August 29. The company raised about Rs 2,830.40 crore through its share sale, which included a fresh share sale of Rs 1,291.40 crore and an offer for sale of 3.42 crore shares.Premier Energies manufactures integrated solar cells and solar panels. Its product portfolio includes cell, solar modules, bifacial modules, EPC solutions and O&M solutions. It has five manufacturing units, all of which are situated in Hyderabad, Telangana.