Bhagyanagar India share soars 13% on securing LOA from Maharashtra Govt

The company has been awarded a Letter of Award ('LOA') from Maharashtra State Electricity Distribution Company (MSEDCL), involving an overall investment of Rs 245 crore

Shares of Bhagyanagar India were buzzing in trade during Tuesday's trading session. The company's stock soared as much as 13.22 per cent to a day's high of Rs 86.92 per share on the BSE during intra-day deals on Tuesday, February 25, 2025.

 

The upward movement in Bhagyanagar India’s share price followed the news that the company has been awarded a Letter of Award (‘LOA’) from Maharashtra State Electricity Distribution Company (MSEDCL) (A Government of Maharashtra Undertaking), involving an overall investment of Rs 245 crore.  

According to the exchange filing made by the company, the scheme involves a total allotted capacity of 53 MW of Solar Power Generation (SPG) under the Mukhyamantri Saur Krushi Vahini Yojana 2.0—a scheme launched for the implementation of feeder-level solarisation under Component C of the PM-KUSUM Scheme by MSEDCL.

 

 

Incorporated in 1985, Bhagyanagar India is engaged in the manufacture of copper products. The company started with the production of non-ferrous metal products like copper rods and lead sleeves. A copper division was acquired through the takeover of two units, India Extrusion and Gangappa Industries. Bhagyanagar India's product profile now includes enamelled and paper-covered copper strips, which are used by companies such as Lucas TVS, BHEL, Crompton Greaves, and Sahney Paris.

 

As of February 25, Bhagyanagar India enjoys a market capitalisation of Rs 263.45 crore on the BSE.

 

Bhagyanagar India shares have dropped nearly 18 per cent in the last one year. In comparison, the benchmark Sensex has advanced around 2.60 per cent in the same period.

 

Bhagyanagar India shares reached their 52-week high of Rs 128.95 per share on the BSE on July 7, 2024, while they fell to their 52-week low of Rs 71.15 per share on February 19, 2025.

 

At 1:35 PM on Tuesday, Bhagyanagar India shares were trading at Rs 81.05 apiece, up 5.58 per cent from the previous close of Rs 76.77 on the BSE.

 

Meanwhile, the benchmark equity indices were trading in positive territory on Tuesday. The BSE Sensex was up by 243.90 points at 74,698 levels, while the Nifty 50 traded 0.15 per cent higher at 22,586 levels.