Shares of Ceigall India Ltd gained 2.88% to Rs 268.10 in early trade on Monday following the announcement of two major solar power project orders from Maharashtra State Electricity Distribution Company Limited (MSEDCL), collectively worth Rs 1,309 crore.
Details of the Solar Orders
The company received Letters of Award (LoA) from MSEDCL for two large-scale solar photovoltaic power generating projects under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 Scheme.
The first project involves a total capacity of 147 MW (AC), spread across two districts in Maharashtra, with an EPC cost of Rs 597 crore. Ceigall will operate, maintain, and supply power for 25 years under a long-term Power Purchase Agreement (PPA).
The second project, with a capacity of 190 MW (AC), will be developed across four districts in Maharashtra at an EPC cost of Rs 712.16 crore. Similar to the first, the contract includes a 25-year operation and maintenance commitment under a PPA.
Additional Order from Himachal Pradesh
Separately, on September 30, Ceigall India received a Letter of Intent (LoI) from the Himachal Pradesh State Industrial Development Corporation Limited (HPSIDC) for the development of a bulk drug park at Una District, valued at Rs 225 crore.
Stock Performance
Following these announcements, Ceigall India shares surged to Rs 268.10, up Rs 7.50 or 2.88%, with a market capitalization of Rs 46,740 crore. The stock traded between Rs 264.70 and Rs 273.00 during the day, compared to its previous close of Rs 260.60.
The consistent project wins reinforce Ceigall India’s position as a leading infrastructure developer with a growing presence in renewable energy and industrial infrastructure.
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