 "Vikran Eng jumps 9% on solar project win; stock soars 20% in 3 sessions")
Shares of Vikran Engineering Ltd. rose over 9 per cent on Monday, following Letters of Award (LoAs) from MP Urja Vikas Nigam for solar PV-based power plants with a total capacity of 45.75 MW AC in Vidisha, Madhya Pradesh.
The civil construction company's stock rose as much as 9.5 per cent during the day to ₹110.3 per share, the biggest intraday rise since December 24 this year. The Vikran Engineering stock pared gains to trade 4 per cent higher at ₹106 apiece, compared to a 0.22 per cent decline in Nifty 50 as of 11:51 AM.
Shares of the company rose for the third straight session, rising over 20 per cent in the process, and currently trade at 7.5 times the average 30-day trading volume, according to Bloomberg. The counter has risen 5 per cent since listing in September this year. Vikran Engineering has a total market capitalisation of ₹2,700.33 crore. CATCH STOCK MARKET UPDATES TODAY LIVE
Vikran Engineering bags LoA from MP Urja Vikas Nigam
Vikran Engineering, on Friday, said it has accepted letters of award from MP Urja Vikas Nigam Ltd. for setting up grid-connected solar photovoltaic power plants with a cumulative capacity of 45.75 megawatt alternating current in Vidisha district, Madhya Pradesh.
The projects will be implemented under the Surya Mitra Krishi Feeders Scheme as part of the PM KUSUM-C programme, and power generated will be sold to Madhya Pradesh Power Management Co Ltd.
Under the awards, Vikran Engineering will act as the renewable power generator for the projects. The power purchase agreements will have a tenure of 25 years, with tariffs ranging from ₹2.75 per kilowatt hour to ₹2.80 per kilowatt hour, the company said in a statement. The contracts have been awarded by a domestic government entity and do not fall under related party transactions, the company said. ALSO READ | John Cockerill rallies 7% after Ramesh Damani, Chetan Shah buy stake
Last week, the share price rose on the back of a ₹2,035-crore deal win, along with a ratings upgrade from Infomerics Valuation and Rating. Vikran Engineering secured a major work order worth ₹2,035.26 crore from Onix Renewables Limited, a special purpose vehicle (SPV).
Vikran Engineering reported a robust performance for the quarter ended September 30, 2025, driven by strong execution across its Power Transmission and Distribution (T&D) business. Revenue from operations rose 10.7 per cent year-on-year to ₹176.3 crore, compared to ₹159.2 crore in Q2 FY25. Ebitda nearly doubled (up 98.9 per cent Y-o-Y) to ₹25.4 crore from ₹12.8 crore in the same period last year, with margins improving sharply to 14.4 per cent from 8 per cent.