Oriana Power Ltd's Shares Surge on Rs. 247 Crore Order from Bharat Petroleum
Key Ideas
- Oriana Power Ltd's shares soared by 5% after securing a significant order of 52 MW worth Rs. 247 crores from Bharat Petroleum for a solar power project.
- The company's financials witnessed a remarkable growth with a 398% increase in revenue and a 750% surge in net profits during H2FY24.
- Oriana Power has recently collaborated with Splitwaters for green hydrogen projects in India, aiming to develop green hydrogen and E-fuel facilities across the country.
- The company is strategically positioned for future growth with an order book exceeding 600 MWp solar projects and plans to achieve 1 GW capacity by 2026.
Oriana Power Ltd, a leading solar energy solution provider in India, experienced a surge in its share price by 5% following the announcement of a substantial order worth Rs. 247 crores from Bharat Petroleum for a solar power project. The company's financial performance has shown impressive growth, with a significant increase in revenue and net profits. Oriana Power's recent collaboration with Splitwaters for green hydrogen projects signifies its commitment to sustainable energy solutions. The company is poised for growth with a robust order book exceeding 600 MWp solar projects and plans to achieve a capacity of 1 GW by 2026. Oriana Power's strategic partnerships and focus on market expansion indicate a positive outlook for the company's future in the renewable energy sector.