This T group stock hit 5% upper circuit on October 8; check reasons here

Zodiac Energy share price: Shares of Zodiac Energy were locked in the 5 per cent upper circuit at Rs 579.60 per share on Tuesday, October 08, 2024.

Zodiac Energy share price surged after the company announced that it has secured an order worth 154.27 crore from Ahmedabad Municipal Corporation (AMC).

In an exchange filing, Zodiac Energy said, “We hereby inform that our Company has been awarded with an order from Ahmedabad Municipal Corporation (AMC) for Design, Supply, Installation, Testing, and Commissioning of Grid Tied 30 MW Ground Mounted Solar Projects in the state of Gujarat including Erection, Operation & Maintenance for 5 Years and Lease/Sublease at the aggregate value of Rs 154.27 crore.”

Zodiac Energy will be responsible for design, supply, installation, testing, and commissioning of Grid Tied 30 MW ground mounted solar projects in Gujarat including erection, operation and maintenance (O&M) for 5 years.

The company is expected to deliver the project within 18 months from the date of receipt of order. 

Financially, the company posted a revenue of Rs 79.34 crore in the June quarter of FY25 (Q1FY25), Its profit stood at Rs 2.33 crore during the same period. 

Zodiac Energy is a solar energy company with over 30 years of experience in the power generation sector, offering comprehensive services that include design, supply, installation, testing, commissioning, operation, and maintenance of solar power systems. 

With a strong portfolio that includes projects for prominent clients such as the Adani Group, Sun-Edison India Limited, Torrent Power Limited, and the Reserve Bank of India, Zodiac Energy operates from locations in Ahmedabad, Nadiad, and Lucknow. 

The market capitalisation of Zodiac Energy is Rs 874.97 crore, according to BSE. 

The 52-week high of Zodiac Energy is Rs 819.40 per share while 52-week low of Rs 124.25 per share.

At 10:43 AM, Zodiac Energy share price continued to remain locked in the 5 per cent upper circuit. In comparison, BSE Sensex was trading 0.52 per cent higher at 81,468.82 levels.