Premier Energies shares gain 3% as subsidiaries secure orders worth ₹1,087 crore

Premier Energies' share price jumped by 3% in the opening trade on 26 November after the company announced multiple orders worth ₹1,087 crore. The orders were secured by its subsidiaries from two major Independent Power Producers (IPPs) and an additional customer.

At 9:23 AM, Premier Energies' stock was trading at ₹1,125.20 on the BSE, reflecting a rise of ₹33.00 or 3.02%. This marks another positive development for the company, which continues to make significant strides in the renewable energy sector.

Breakdown of the ₹1,087 crore orders

The company's subsidiaries, Premier Energies Global Environment, Premier Energies International, and Premier Energies Photovoltaic, have collectively secured the orders. These include:

• ₹964 crore for solar modules
• ₹123 crore for solar cells

The supply for these orders is scheduled to commence in January 2025, marking a busy start to the year for the company.

Recent successes boost investor confidence

This announcement comes on the heels of other recent achievements. Earlier in November, Premier Energies' subsidiaries received orders worth ₹560 crore from two leading IPPs and other clients. In October, the company secured additional orders worth ₹765 crore through its subsidiaries, Premier Energies International Private Ltd and Premier Energies Photovoltaic Private Ltd.

Such consistent performance reflects Premier Energies' robust position in the solar energy market and its ability to attract high-value projects. For those looking to buy shares online, Premier Energies is fast becoming a preferred choice due to its strong growth trajectory.

Market debut and stock performance

Premier Energies made its stock market debut on 3 September 2024, listing at ₹991—an impressive 120% premium over its IPO issue price of ₹450 per share. The company has since demonstrated resilience and growth, achieving a 52-week high of ₹1,264.90 on 10 September 2024 and a low of ₹801.60 on the same day as its listing.

Currently, the stock is trading 11.04% below its 52-week high but 40.37% above its 52-week low, offering potential opportunities for those exploring investments. Investors considering options to buy shares online may find Premier Energies an appealing prospect, given its consistent order wins and market expansion.

Premier Energies' solar dominance

Premier Energies specialises in solar energy solutions, manufacturing solar cells, monofacial and bifacial modules, and providing EPC (Engineering, Procurement, and Construction) as well as O&M (Operations and Maintenance) services. With five production units based in Hyderabad, Telangana, the company continues to strengthen its foothold in the renewable energy sector.

Outlook for investors

The recent developments highlight Premier Energies’ commitment to driving innovation and growth in the renewable energy sector. The steady influx of high-value orders positions the company as a reliable investment option. For those looking to buy shares online, Premier Energies offers strong growth potential backed by its market leadership in solar energy solutions.