Vikran Engineering shares extend rise to 3rd straight day as firm wins large orders in Solar EPC space

Vikran Engineering shares extend rise to 3rd straight day as firm wins large orders in Solar EPC space.

Vikran Engineering shares extended gains for a third straight session on Monday after the company won fresh orders in the solar EPC segment.

The stock rose 9.54 percent to an intraday high of Rs 110.36 on the NSE. The scrip has climbed over 20 percent in the last three sessions.

The buying interest followed the company’s announcement of new project wins in the renewable energy space.

The company said it has received letters of award for setting up grid-connected solar power projects with a total capacity of 45.75 MW in Madhya Pradesh. Vikran Engineering will act as the renewable power generator and will be responsible for implementation and operation of the plants.

It also secured two other solar projects last week in Maharashtra and Uttar Pradesh with a combined value of Rs 2,500 crore, the company said.

Chairman and Managing Director Rakesh Markhedkar told CNBC-TV18 that the company has near-term visibility of additional potential order inflows of about Rs 2,000 crore and expects to start FY27 with an order book of Rs 5,500–5,700 crore.

The stock has gained 13.6 percent since its market debut in September.

Earlier, the firm had bagged an order worth over Rs 2,000 crore from Onix Renewables for the development of 600 MW solar projects across Maharashtra.

The project will be executed over 12 months on a turnkey EPC basis and covers design, engineering, procurement, supply, erection, testing and commissioning of the solar plants.

The scope of work also includes the supply of key equipment such as solar PV modules and inverters.

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