India’s 2nd Largest Sollar Cell Player Bags Rs 765 Cr Orders, Shares Gain 15.12% From IPO Price

Leading company engaged in electrical equipment industry, Premier Energies Ltd shares today surged over 7% after the company's subsidiaries won 2 orders worth Rs 765 crore. Last trading price of Premier Energies shares on BSE is Rs 1141.60 per share with intraday gain of 2.43%. Earlier this year on September 3, 2024 Premier Energies stock made a bumper debut on the bourses. 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%. Premier Energies shares offered eye-catching returns of 13.78% in last 1-week. Check details below:

Premier Energies Bags New Order: As per the exchange filing of Premier Energies dated October 14, "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 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."

Earlier on October 8, 2024, the company informed via the BSE filing, "We would like to inform that our subsidiary Premier Energies International Private Limited has entered into Module Supply Agreement (MSA) with BN Hybrid Power-1 Private Limited, a SPV of BrightNight India for supply of 173.35 MWp of solar module featuring the latest Topcon technology for their 300 MW FDRE (Wind, Solar and Energy Storage) Power Project located in Barmer, Rajasthan."

Premier Energies Shares Performance: 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. The company's market capitalisation stood at Rs 51,027.66 crore. Premier Energies shares gained 4% in last 2-weeks and soared over 2% in last 1-month.

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.