Premier Energies units get multiple orders of Rs 1,087 cr; stock rises 4%

The rise in Premier Energies share price came after the company announced that subsidiaries have received multiple orders of Rs 1,087 cr from 2 large Independent Power Producers & 1 other customer

Premier Energies stock gains: Shares of Premier Energies rose up to 4.01 per cent to hit an intraday high of Rs 1,136 per share on Tuesday, November 26, 2024. 

 

The rise in Premier Energies share price came after the company announced that arms, Premier Energies Global Environment Private Limited, Premier Energies International Private Limited, Premier Energies Photovoltaic Private Limited, have received and accepted multiple orders aggregating to Rs 1,087 crore from 2 large Independent Power Producers (IPP) and 1 other customer. 

 

In an exchange filing, Premie Enegries said, “We hereby inform you that Premier Energies Global Environment Private Limited, Premier Energies International Private Limited, Premier Energies Photovoltaic Private Limited the subsidiaries of Premier Energies Limited, have received and accepted multiple orders aggregating to Rs 1,087 Crore from 2 large Independent Power Producers (IPP) and 1 other customer. These orders include Rs 964 crore for Solar Modules and Rs 123 crore for Solar Cells.”

 

 

The supply of these modules is scheduled to commence from January 2025, the company said in a statement. 

  

“This is further informed that the trading window will remain closed from 26th November, 2024 till 27th November, 2024 (both days inclusive). Trading window will be re-opened on Thursday, 28th November 2024,” Premier Energies said.

 

Premier Energies IPO 

 

Shares of Premier Energies made a strong debut on the bourses on September 3. 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. On the NSE, Premier Energies shares opened at Rs 990, reflecting a 120 per cent premium.

 

About Premier Energies

 

Premier Energies is an integrated manufacturer of solar PV cells and solar modules, including custom-made modules for specific applications. The company also provides end-to-end solar services for ground-mounted, rooftop, floating, canal bank, canal top, and hybrid power generation systems, as well as operations and maintenance (O&M) services for executed projects. Additionally, Premier Energies produces customised products like bespoke solar tiles and operates as an independent power producer, generating 2 MW of solar power from its plant in Jharkhand.

 

At 9:33 AM, shares of Premier Energies were trading 2.69 per cent higher at Rs 1,121.55 per share. In comparison, BSE Sensex was trading 0.32 per cent higher at 80,365.40 levels.