Advait Energy Transitions was locked in upper circuit of 5% at Rs 1,488.25 after receiving letter of Award (LOA) from Solar Energy Corporation of India (SECI) for product linked incentive (PLI) to set up manufacturing alkaline electrolysers.
The contract entails PLI for setting up manufacturing capacities of 200 MW of alkaline electrolysers in India under Strategic Interventions for Green Hydrogen Transition (SIGHT) Scheme (Tranche II) by SECI.The project is to be completed within 5 years.
Advait Energy Transitions (formerly known as Advait Infratech) is engaged in business of providing products and solutions for power transmission, power substation and telecommunication infrastructure fields.
The company's consolidated net profit declined 21.1% to Rs 4.3 crore on a 5.6% slide in net sales to Rs 46.19 crore in Q2 FY25 over Q2 FY24.
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