 "Premier Energies gains 4% on bagging orders for solar modules, cells")
Premier Energies share price surged 4 per cent at Rs 1,120.45 a piece on the BSE in Monday’s intraday deals. This came after the company secured orders worth Rs 560 crore on Saturday.
“We hereby inform you that Premier Energies International Private Ltd. & Premier Energies Photovoltaic Private Ltd, the subsidiaries of Premier Energies Limited, have received and accepted multiple orders aggregating to Rs 560.00 crore from 2 large Independent Power Producer (IPP) and others. These orders include Rs 513.00 crores for Solar Modules and Rs 47 crores for Solar Cells,” the company said in an exchange filing.
The company said that the supply of modules & cells is scheduled to be commenced and concluded from December 2024 to May 2025.
Premier Energies is an integrated manufacturer of solar PV cells and solar modules, offering custom-made solutions for specific applications. The company provides comprehensive solar services for a variety of systems, including ground-mounted, rooftop, floating, canal bank, canal top, and hybrid power generation systems. In addition, they offer operations and maintenance (O&M) services for completed projects.
Premier Energies also produces customised products, such as bespoke solar tiles, and functions as an independent power producer, generating 2 MW of solar power from its plant in Jharkhand.
Premier Energies share price history
Shares of Premier Energies have zoomed 136 per cent over its issue price since it made a strong debut on the bourses on September 03. The company's shares listed at Rs 991 on the BSE, marking a 120.22 per cent premium over the upper end of its issue price of Rs 450. The stock of the company has zoomed 136 per cent over its issue price.
The company has a total market capitalisation of Rs 47,885.76 crore. At 11:04 AM, the stock price of the company pared all its gains and was down 1.53 per cent at Rs 1,060.20 a piece on the BSE. By comparison, the BSE’s Sensex was down 1.79 per cent to 78,293.35 level.