Gensol Engineering Limited’s shares rallied 9.32% to a session high of ₹779.95 on Friday after the company bagged an order amounting to ₹897 crores from NTPC Renewable Energy Limited.
Gensol Engineering received an Engineering, Procurement and Construction (EPC) order from NTPC Renewable Energy Limited for the development of grid-connected solar PV projects at Khavda in Gujarat. The company will also carry out operations and maintenance (O&M) for three years.
“Gensol Engineering has secured a EPC contract from NTPC Renewable Energy Limited Development of 225MW Grid Connected Solar PV Projects at GSECL Solar Park (Stage-III), Khavda, Gujarat,” said the company in an exchange filing.
The total bid value for the project, including operations and maintenance (O&M) for three years as well as taxes and duties, amounts to approximately ₹897.47 crore, added the company.
At close on Friday, the stocks of Gensol Engineering were trading 6.24% higher at ₹757.95 as compared to the previous close of ₹713.45 per share on the National Stock Exchange (NSE).
Summary:
Gensol Engineering Limited’s shares surged 9.32% on Friday after the company bagged an order worth ₹897 crores from NTPC Renewable Energy Limited.
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