Shares of Madhav Infra Projects surged after the company announced the successful partial commissioning of a 12.5 MW solar power project out of a total 35 MWp capacity for Gujarat State Electricity Corporation Limited (GSECL) in Gujarat. The company received a certificate from the Chief Electrical Commissioner for this milestone under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Madhav Infra Projects emphasized that this development marks a significant contribution to the renewable energy landscape of Gujarat and reinforces its commitment to delivering high-quality renewable energy solutions. The company highlighted that the project aligns with India’s broader renewable energy goals, and the successful commissioning of this phase is a step towards achieving the full 35 MW capacity.
The partial commissioning represents a key milestone, enabling the company to move towards completing the full plant. Madhav Infra Projects expressed gratitude to its team and stakeholders for their contributions to the successful execution of this phase.
Stock details show that Madhav Infra Projects shares rose over 5% to ₹11.90 in early trade. The stock recorded a day’s range between ₹11.35 and ₹12.09, while its market capitalization stood at ₹3.22 billion. The company has a P/E ratio of 20.61, with an average volume of 366.87K shares traded during the session.
