Infra stock hits 5% upper circuit after receiving 1.2GW solar project order from NHPC

During Wednesday’s trading session, the shares of a company specialising in engineering construction and development with a focus on roads, sewerage and water distribution projects hit a 5 percent upper circuit on NSE, after securing an order from NHPC for 1200 MW solar projects.

Price Movement

With a market cap of Rs. 386 crores, the shares of Teerth Gopicon Limited hit a 5 percent upper circuit at Rs. 321.75, compared to its previous closing price of Rs. 306.45.

The stock hit its 52-week high at Rs. 774 on 10th September 2024, and compared to its current trading price of Rs. 321.75, the stock is trading at a discount of nearly 58 percent.

What’s the news

As per the latest regulatory filings with the NSE, Teerth Gopicon Limited has been awarded a Letter of Award (LoA) by NHPC Limited for the “Selection of Solar Power Generators for setting up of 1.2 GW ISTS (Inter State Transmission System) connected solar power projects across India, under Tariff-Based Competitive Bidding with a Green Shoe Option.”

The project will be located in Amardi, Bhachau, Bhuj, Gujarat, and is expected to be completed within 24 months from the Effective Date of the Power Purchase Agreement (PPA).

Also read: 1:5 Stock Split: IT stock jumps over 10% after board approves share split

Previous Orders

8th February: Teerth Gopicon secured a Letter of Intent (LoI) from JVVNL to develop solar power plants with a total capacity of 39.4 MW.The order covers the design, survey, supply, installation, testing, commissioning, operation & maintenance of grid-connected solar power plants under the RESCO mode from the Commercial Operation Date (COD).

It also includes the associated 11 kV line to connect the plant to various 33/11 kV sub-stations, along with the remote monitoring system (RMS) for the solar power plants, as per TN-01 under Component A of the PM-KUSUM Scheme of JVVNL.

25th February: The company signed a Memorandum of Understanding (MOU) with The New and Renewable Energy Department, Government of Madhya Pradesh, during the Global Investor Summit 2025.

The MOU sets forth the intent of the company to invest Rs. 1,500 crores in setting up a project with a capacity of 3 GW of Topcon Solar Module Manufacturing and 3 GW of Solar Cell Manufacturing Line in Madhya Pradesh.

Financials

Teerth Gopicon experienced a significant growth in its revenue from operations, showing a year-on-year increase of around 84 percent from Rs. 37.4 crores in H1 FY24 to Rs. 68 crores in H1 FY25. Similarly, its net profit increased during the same period from Rs. 3 crores to Rs. 10 crores, indicating an impressive rise of nearly 233.3 percent YoY.

About the company

Teerth Gopicon Limited specialises in engineering construction and development, mainly focusing on roads, sewerage and water distribution projects in Madhya Pradesh and expanding its geographical footprint to other states as well.

Written by Shivani Singh

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