Share of this 'Z' group company hit 5% upper circuit today; here's why

Marsons Ltd share price: Marson Ltd shares were locked in the 5 per cent upper circuit at Rs 280.90 per share on Friday, September 27, 2024.

Marson Ltd shares rose after the company said it has received a Letter of Intent (LoI) from Nacof Oorja worth Rs 675 crore. 

In an exchange filing, Marsons Ltd said, “We are pleased to announce that our company has received a Letter of Intent from Nacof Oorja to develop a lSO MW(AC) Grid-Interactive Ground-Mounted Solar PV Power Generation Plant.”

This project, which includes multiple units across different locations in Rajasthan, is being executed for RRECL under the KUSUM Scheme, aimed at providing daytime power to agricultural COnSumers.

 

The project we will be executing in technical collaboration with a third party "Aditya Clean Systems (P) Ltd" where the third party will provide us technical support. 

The company is expected to deliver the project in 12-18 months, the company said.

“This marks a significant milestone for us as we make a strong entry into the renewable energy sector. We are confident that this is the beginning of significant growth in this promising segment,” Marsons Ltd said.

Marsons Ltd share price history

Historically, Marsons Ltd shares have given solid returns to the investors. Marson Ltd share have risen 3,398 per cent year-to-date while the share has gained 680 per cent in the past six months.

Marsons Ltd. is a prominent Indian manufacturer specialising in electrical transformers, offering a diverse range of products including distribution and power transformers, furnace transformers, dry type transformers, special application transformers, solar transformers, and instrumental transformers. 

Founded in 1976 as Marsons Electricals Limited, the company is headquartered in Kolkata, West Bengal, and has built a strong reputation in the industry over the past 60 years.

The company boasts a fully equipped laboratory capable of testing transformers up to 160 MVA and 220 kV class, ensuring high standards for its products. 

With a track record of supplying over 300,000 transformers globally, Marsons Ltd. continues to be a reliable partner in the electrical transformer market,

At 10:11 AM, the Marsons Ltd share remained locked in the 5 per cent upper circuit. In comparison, BSE Sense was trading 0.11 per cent higher at 85,927 levels.