Enviro Infra shares rally 10% in two sessions on back-to-back order wins

Analyst advised against fresh entry right now, as Enviro Infra Engineers is facing immediate resistance near the ₹215- ₹220 zone following a sharp mo

Enviro Infra share price: Shares of Enviro Infra rallied nearly 5 per cent in Thursday's intraday trade, extending the rally to a second straight session following back-to-back order wins. 

 

Enviro Infra Engineers' share price hit the day's high of ₹215.74 on the National Stock Exchange (NSE), up 4.7 per cent from the last closing price of ₹206.06. In the previous trade, it added 5.03 per cent, thus taking its two-day rally to 9.7 per cent.

 

Around 5.1 million shares of the company had changed hands so far on NSE and BSE combined. Around 2 PM, the stock was up 3.85 per cent at ₹214. The stock's 52-week high was at ₹276.05 and 52-week low at ₹135.

 

 

Enviro Infra order win details

The company last evening announced an order win worth ₹224.19 crore from Tata Power Renewable Energy for a wind energy project. 

 

Enviro Infra said that through its step-down subsidiary Suyog Urja Limited (SUL), it has received a Letter of Intent (LOI) from Tata Power Renewable Energy (TPREL) for the execution of EPC turnkey works for the development of a 180 MW NTPC Wind Power Project at Parli,  Maharashtra. The project is to be executed by March 31, 2027.

 

The scope of work encompasses Wind Turbine Generator foundation works, Balance of Plant (BoP) works, and 33 kV transmission line works. The WTG foundation package includes civil foundation works for 58 WTGs, along with associated reinforcement steel and geotechnical requirements, the company said in the exchange filing. Additionally, under the BoP scope, the company will undertake the development of an approximately 39-acre storage yard, co-ordination and management of Right of Way (ROW) for material movement, and construction.

 

Meanwhile, on September 8, it bagged another project worth ₹189.99 crore from Tata Power Renewable Energy for the same project, involving services of EPC turnkey works for development of 180 MW NTPC Wind Power Project at Parli, Maharashtra.

 

This contract was for WTG Foundation Works, including supply of reinforcement steel and Geotech, BoP including developing a fully equipped 39-acre secure storage yard, coordinating ROW for seamless material transport, and constructing permanent and temporary roads, pathways, and crane pads, 33kV transmission line works.

 

Enviro Infra stock outlook

Commenting on the stock outlook, Virat Jagad, senior technical research analyst at Bonanza, advised against fresh entry right now, as Enviro Infra Engineers is facing immediate resistance near the ₹215– ₹220 zone following a sharp move. 

 

"Consider entering on a retest pullback around ₹200–₹205. Price has reclaimed all key moving averages (20, 50, 100, and 200 EMAs) with expanding green volume bars and a healthy RSI rising past 61, confirming a bullish shift—making dip buys preferable," he added.

 

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