Ujaas Energy zooms over 80% in one month post Q2 results

The stock hit a record high of Rs 47.30, rallied 84% in past one month from Rs 25.05

Ujaas Energy has locked in upper circuit of 10% at Rs 47.30, also its record high on the BSE, on back of heavy volumes.

Till 10:53 am; a combined 3.03 million shares changed hands and there were pending buy orders for 748,645 shares on the BSE and NSE.

In past one-month, the stock has rallied 84% from Rs 25.05 on October 28, after the company reported nearly three-fold jump in net profit at Rs 9.7 crore for the quarter ended September 2016 (Q2FY17).  It had profit of Rs 3.3 crore in the same period last year.

Ujaas Energy manufacturing transformers for more than 30 years, the company diversified into the generation of solar energy and launched a solar power turn-key project called ‘UJAAS’ since 2010. It made a strong foray into the home rooftop solar segment with an order win from Uttarakhand Renewable Energy Development Authority for installations on 364 houses.

As of September 30, 2016, the company has order book position of 20 MW and bid book of 80 MW.

In November month, Ujaas Energy had received order for SPV based solar power system at RBI building, Bhopal. The company has received an order for design, supply, installation, testing and commissioning of grid interactive SPV based solar power system of 50 Kwp at RBI building, Bhopal (MP).

Earlier in this month, the company had bagged an order for rooftop grid connected solar PV system of 158 Kwp from Airport Authority of India.