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The Hindu
3 hours ago
- Business
- The Hindu
Raminfo-led consortium bags ₹474-cr. rooftop solar projects order from RRECL
Raminfo, through a consortium it is leading, has bagged a ₹474-crore order from Rajasthan Renewable Energy Corporation Ltd. (RRECL). It marks the company's foray into smart-energy solutions, the Hyderabad-based tech solutions provider said on Tuesday. Special purpose vehicle Raminfo Green Energy, set up last month, in which the company holds 51% stake, will execute the project, Managing Director L. Srinath Reddy said in a release. The SPV will operate in electricity, gas, steam and air-conditioning supply sector, the company said. The scope of RRECL order includes design, supply, erection, testing and commissioning along with comprehensive operation and maintenance for 25 years of rooftop solar photovoltaic power projects to be installed on buildings owned by the State government and its undertakings across Rajasthan under hybrid annuity mode aggregating to a total capacity of 73 MW. Solar is one of the fastest-growing renewable energy sources in the world and 'with our integrated rooftop solar solutions, we aim to lead the charge of India's energy revolution to achieve rooftop solar targets on state government buildings at various locations in Rajasthan,' said. Rooftop solar industry in India is experiencing rapid growth with total installed capacity reaching 13.7 GW by December 2024 on the back of government initiatives. The market is projected to expand, with some estimates suggesting a market value of $4.46 billion by 2033. Investments by Central and State governments as also by the private sector is set to boost overall capacity addition in green energy which in turn will contribute to the company, Raminfo said. The company's shares closed 19.99% higher at ₹92.66 apiece on the BSE.
Mint
10 hours ago
- Business
- Mint
525% rally in five years! Small-cap multibagger stock hits 20% upper circuit despite sell-off in Indian stock market
Stock Market Today: Having seen a 525% rally in five years, this small-cap Multibagger stock gained 20% to hit the upper circuit on Tuesday, despite the sell-off in the Indian stock market. The RAMINFO Ltd. announced having bagged fresh orders. Raminfo Ltd., the small-cap Multibagger stock on Tuesday, 17 June 2025, announced the order wins on the exchanges. Through its media release on the BSE, or the Bombay Stock Exchange, Raminfo Ltd. intimated about the bagging of a ₹ 474 crore order for installing a rooftop solar project. As per Raminfo Ltd.'s press release, it has bagged an order worth ₹ 474 crore from Rajasthan Renewable Energy Corporation Limited (RRECL) through a consortium led by the company. Under the Hybrid Annuity Mode (HAM), the scope of the order covers the design, supply, erection, testing, commissioning, and comprehensive operation and maintenance (O&M) for 25 years of rooftop solar (RTS) photovoltaic power projects that will be installed on state government buildings and its undertakings throughout Rajasthan. These projects will have a combined capacity of 73 MW, as per Raminfo Ltd. L. Srinath Reddy, Managing Director of Raminfo Limited, in a statement, said that 'Raminfo Limited will hold a 51% stake in this project through its SPV Raminfo Green Energy Private Limited, which will execute the project with a total capacity of 73 MW. On May 5, 2025, Raminfo entered the energy business by establishing Raminfo Green Energy Private Limited, a subsidiary that operates in the gas, electricity, steam, and air conditioning supply sector. It seeks to use solar energy to build a sustainable future. Small-cap Multibagger stock Raminfo share price opened at ₹ 76.80 levels on the BSE on Tuesday. At the time of opening, the Raminfo share price was slightly lower compared to the previous day's closing price of ₹ 76.80. The Raminfo share price thereafter gained further to intraday highs of ₹ 92.66, translation gains of almost 20% during the intraday trades on Tuesday. This intraday high level was also the upper pricing band. And hence the Raminfo share price was locked in the 20% upper circuit. RamInfo share price having risen close to 525% in five years has given Multibagger returns to the investors. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Upturn
12 hours ago
- Business
- Business Upturn
Raminfo shares in focus as company bags Rs 474 crore rooftop solar project order from Rajasthan government
By Aditya Bhagchandani Published on June 17, 2025, 11:59 IST Raminfo Limited is likely to draw investor attention after announcing a major project win worth ₹474 crore. The company, in a press release dated June 17, 2025, revealed that it has secured an order from the Rajasthan Renewable Energy Corporation Limited (RRECL) to install rooftop solar photovoltaic (RTS) power projects across government buildings in Rajasthan. This is Raminfo's largest foray into green energy, executed through its new subsidiary, Raminfo Green Energy Private Limited. Under the Hybrid Annuity Mode (HAM), the scope of the project includes design, supply, erection, testing, commissioning, and 25 years of comprehensive operation and maintenance of 73 MW RTS capacity. Raminfo will hold a 51% stake in the project. The Managing Director of Raminfo, L. Srinath Reddy, stated that this project is a significant step in the company's green energy journey and positions Raminfo to play a leading role in India's rooftop solar mission. With India's rooftop solar market projected to reach USD 4.46 billion by 2033, this order could be a major growth catalyst. Founded over 30 years ago, Raminfo is a BSE-listed tech solutions provider with presence across e-governance, smart energy, fintech, IoT, and healthcare sectors. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
