Aerpace Industries shares hits 5% upper circuit on winning Rs 97-cr order

Aerpace Industries shares clocked a 5 per cent upper circuit in Monday's trade on BSE at Rs 44.57 per share. The buying in the stock came after  AerVolt bagged an order for the supply of 50 MWp high efficiency 595 wp TOP Con technology smart solar panels. AerVolt project is a renewable energy initiative of Aerpace Industries.

 

Around 11:07 AM, Aerpace Industries Ltd share price was up 4.36 per cent at Rs 44.3 per share on BSE. In comparison, the BSE Sensex was down 0.07 per cent at 78,646.72. The market capitalisation of the company stood at Rs 660.94 crore. The 52-week high of the stock stood at Rs 60 per share and the 52-week low stood at Rs 5 per share.

 

"We are pleased to announce that aerVolt has secured an order for the supply of 50 MWp high efficiency 595 wp TOPCon technology smart solar panels," the filing read.

 

The order is worth Rs 97.5 crore and will boost the company's topline growth for FY 2025-2026, as per the exchange filing. Further, it will strengthen operational liquidity.

 

The installation of the 400 MWp solar panel manufacturing facility is scheduled for completion in January and February 2025 and the delivery of the 595 Wp TOPCon bifacial solar panels for this tender is scheduled to begin from April 2025.

 

Once the certification and installation are completed, aerVolt will commence manufacturing and deliver solar panels as per the client's requirements.

 

Aerpace Industries Ltd engages in renewable energy and infrastructure business in India. It develops all-electric air mobility transportation systems, including aerverse flying car ecosystem; and aerdock, an AI powered and fully automated docking station. 

 

The company also develops aerWing, an aerial vehicle designed for various use cases, such as aerTaxi for passenger transport; aerDrive for personal vehicle travel; aerCargo for cargo transport; and aerCare for emergency services. The company was formerly known as Supremex Shine Steels Limited and changed its name to Aerpace Industries Limited in April 2023. Aerpace Industries Limited was incorporated in 2011 and is based in Mumbai, India.

 

In the past one year, shares have gained 749 per cent against Sensex's rise of 9 per cent.