Latest news with #LOA
Business Standard
2 days ago
- Business
- Business Standard
Waaree Renewables Technologies wins order of Rs 346.33 cr
For solar power project of 300 MW AC/435 MW DC capacityWaaree Renewables Technologies has been awarded Letter of Award (LOA) for the execution of Engineering, Procurement and Construction (EPC) works of solar power project of 300 MW AC/435 MW DC capacity. The value of the order is Rs 346.33 crore. Powered by Capital Market - Live News
Business Upturn
2 days ago
- Business
- Business Upturn
Waaree Renewables shares jump 4% on securing Rs 346 crore solar project
Shares of Waaree Renewables Technologies Ltd jumped nearly 4% in morning trade after the company announced it had secured a significant Letter of Award (LOA) for a large-scale solar project. The contract involves the Engineering, Procurement, and Construction (EPC) of a 300 MW AC / 435 MW DC ground-mounted solar power project awarded by a domestic renewable energy generation company. The total value of the contract is approximately ₹346.33 crore, excluding taxes, marking a notable addition to Waaree's growing portfolio of solar infrastructure projects. This order strengthens the company's position as a key player in India's renewable energy sector, particularly in utility-scale solar EPC execution. Advertisement This commercial order, entirely domestic in nature, is scheduled to be executed during the financial year 2025–26, further boosting Waaree's order book and revenue visibility for the upcoming fiscal period. Investors responded positively to the news, reflecting confidence in the company's execution capabilities and future growth potential. Waaree Renewables shares opened at ₹1,025.00, hitting a high of ₹1,067.70 and a low of ₹1,022.10 during the session. The stock remains close to its 52-week high of ₹1,170.00, indicating strong upward momentum. Its 52-week low stands at ₹841.15. 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.
Mint
3 days ago
- Business
- Mint
Reliance Power share price jumps 8% to fresh 52-week high; Should you buy?
Reliance Power share price extended its upward momentum for the third consecutive session on Monday, surging nearly 8% to hit a fresh 52-week high amid robust trading volumes. The Anil Ambani-led Reliance Power shares rallied as much as 7.79% to touch a new high of ₹ 62.80 apiece on the BSE. This latest gain in Reliance Power shares follows an impressive 11% jump in the previous session, bringing the stock's one-week gain to over 21%. Trading volumes in Reliance Power shares were significantly elevated, with around 61 crore shares changing hands on Monday — more than double its one-week average of 27 crore shares, and nearly five times the one-month average of 13 crore shares. The surge in trading activity and stock price follows the announcement of a major renewable energy project win. Reliance Power on May 28 announced that its subsidiary, Reliance NU Energies Private Limited (Reliance NU Energies), received the Letter of Award (LOA) from SJVN, a Navratna Central Public Sector Enterprise, for a 350 MW inter-state transmission system (ISTS)-connected solar power project coupled with a 175 MW/700 MWh Battery Energy Storage System (BESS). Once commissioned, the platform will add 600 MW of solar DC capacity, and 700 MWh of BESS capacity to Reliance Power's portfolio. The company's total clean energy pipeline now stands at 2.4 GW of Solar DC capacity and over 2.5 GWH of BESS capacity, making it India's largest player in the integrated Solar + BESS segment, Reliance Power said in a regulatory filing on May 28, 2025. Reliance NU Energies had earlier emerged as the successful bidder in the competitive auction conducted by SJVN, securing the project at a fixed tariff of ₹ 3.33 per kWh for a period of 25 years. Reliance Power share price has delivered stellar returns in recent months. The Anil Ambani Group stock is up 53% over the past one month and 85% over the last three months. On a year-to-date (YTD) basis, Reliance Power shares have gained 38%, while delivering multibagger returns of 151% over the past one year. The rally has been even more pronounced over the long term, with the Reliance Power stock price rising 370% in two years and an astounding 2,800% over the last five years. From a technical perspective, Reliance Power is currently the strongest performer among Anil Dhirubhai Ambani Group (ADAG) stocks. The stock recently broke out of a 33-week-long 'cup and handle' formation on the weekly chart, noted Anshul Jain, Head of Research at Lakshmishree Investments. 'The breakout was backed by volumes 8x higher than the 50-day average, indicating strong, broad-based participation. Reliance Power share price is currently holding above the breakout level, and any dip towards ₹ 48 or consolidation around this zone presents a fresh buying opportunity,' Jain said. The pattern projects an immediate upside target of ₹ 65, with a further potential move towards ₹ 79, he added. At 12:40 PM, Reliance Power share price was trading 6.52% higher at ₹ 61.95 apiece on the BSE. Disclaimer: 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
27-05-2025
- Business
- Business Upturn
Bondada Engineering receives order worth Rs 204.20 crore for battery energy storage systems from TGGENCO
By Aman Shukla Published on May 27, 2025, 13:41 IST Bondada Engineering Limited has received a Letter of Award (LOA) from Telangana Power Generation Corporation Limited (TGGENCO) for the establishment of Battery Energy Storage Systems (BESS) in the state of Telangana. This marks the company's entry into the BESS business segment. The project involves the development of a 100 MWh (50 MW x 2 hours) Battery Energy Storage System at Shankarpally, Telangana, located near the 400/220 kV substation operated by TGTRANSCO. The system is intended for 'on demand' energy usage and will be developed under a tariff-based global competitive bidding process. The structure of the project includes Viability Gap Funding (VGF) and will be implemented under the Build Own Operate (BOO) model. The order has been awarded by a domestic entity, TGGENCO, and the execution timeline is set at 18 months from the date of signing the Power Purchase Agreement (PPA). The total value of the contract is approximately Rs. 204.20 crores, inclusive of GST, and the duration of the agreement spans 12 years. Bondada Engineering Limited, headquartered in Hyderabad, will be responsible for the complete execution of the project as per the specified terms. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Time of India
21-05-2025
- Business
- Time of India
IRCON International shares in focus after Rs 254 crore KAVACH contract from South Western Railway
Shares of state-run IRCON International will be in focus on Wednesday after the company announced it has secured a Rs 253.6 crore contract from South Western Railway for the implementation of KAVACH , an indigenous train collision avoidance system . The system will be deployed across 778 route kilometers in the Bengaluru and Mysuru divisions. The contract includes the survey, design, supply, installation, testing, and commissioning of KAVACH equipment along with associated works. The project is expected to be completed within 18 months from the date of issuance of the Letter of Acceptance (LOA). Also Read: KEC International, PVR INOX among 10 smallcap stocks analysts expect to gain up to 80% IRCON International reported a 3.8% year-on-year (YoY) decline in net profit to Rs 246.8 crore for the fourth quarter ended 31st March, 2024, compared to Rs 256.5 crore in the same period last year. The company's revenue from operations fell 1% to Rs 3,742.7 crore versus Rs 3,780.7 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA dipped 56.3% to Rs 286.3 crore in the fourth quarter of this fiscal over Rs 183.2 crore in the year-ago period. Live Events The EBITDA margin stood at 7.7% in the reporting quarter compared to 4.9% in the fourth quarter of the previous fiscal. Also Read: Street Favourite! SBI, Tata Motors among 10 large-cap stocks analysts expect to rally up to 32% IRCON International share price target According to Trendlyne, the average target price for IRCON International is Rs 147, indicating a downside of 22% from current levels. The stock holds a 'Sell' rating based on recommendations from 3 analysts. IRCON International shares price performance IRCON shares have risen 17% in the past three months but are down 31% over the past 12 months. The company's market capitalisation currently stands at Rs 17,709 crore. Also Read: Crompton Greaves, Delhivery among 10 mid-cap stocks analysts expect to rally up to 53% ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
