Vikran Engineering Share Price Spiked Over 15% After Major Order Win
The scope of work also includes the supply of key components such as solar PV modules and inverters. The project is expected to be completed within a 12-month timeline.
Vikran Engineering Ltd's share price rose over 15.36% on Wednesday after the company bagged order worth Rs 2,035.26 crore a day earlier from Onix Renewables.
The company in an exchange filing said, "Vikran Engineering Ltd. one of India’s emerging multi-sector EPC (Engineering, Procurement, and Construction) companies, has received a major work order worth Rs 2,035.26 crore from Onix Renewables, a special purpose vehicle (SPV), for the development of 600 MW AC solar power projects across multiple locations in the state of Maharashtra."
The company said that the work order, accepted on December 23, entails execution of the project on a turnkey EPC basis, covering end-to-end activities including design, engineering, procurement, supply, erection, testing, and commissioning.
The scope of work also includes the supply of key components such as solar PV modules and inverters. The project is expected to be completed within a 12-month timeline.
Vikran Engineering's portfolio covers a spectrum of essential services, ranging from infrastructure projects to Power Transmission and EHV substations reaching up to 765kV. The company specialise in ensuring Power Distribution, handling every aspect from the 33/11kV Substation to the end consumer's meter connection, it said on its website.
The scrip rose as much as 15.36% to Rs 99.96 apiece. It pared gains to trade 11.24% higher at Rs 96.39 apiece, as of 09:44 a.m. This compares to a 0.13% advance in the NSE Nifty 50 Index.
It has risen 0.71% in the last 12 months. Total traded volume so far in the day stood at 20 times its 30-day average. The relative strength index was at 52.
