Enviro Infra Engineers Sees Stock Surge Following Major Contract Win
Stock Performance of Enviro Infra Engineers
New Delhi: The stock of Enviro Infra Engineers gained attention on Thursday after its step-down subsidiary, Suyog Urja, received a Letter of Intent (LOI) worth ₹224.19 crore (including GST) from Tata Power Renewable Energy. Following this announcement, the company's shares experienced a notable increase, marking a second consecutive day of gains.
Contract for 180 MW Wind Power Project
The order pertains to the 180 MW Wind Power Project located in Parli, Maharashtra, where the company is tasked with executing EPC turnkey work. The project is expected to be completed by March 31, 2027.
Under this contract, Enviro Infra Engineers will be responsible for the foundation of wind turbine generators, Balance of Plant (BoP) activities, and the construction and commissioning of a 33 kV transmission line. Additionally, civil foundation work for a total of 58 wind turbine generators will be undertaken.
Impact of the Order on Stock Prices
Following the announcement of the order, Enviro Infra Engineers' shares surged by up to 4.70%, reaching an intraday high of ₹215 on the NSE. The stock had already closed approximately 5% higher the previous day.
Previously, the company secured another contract worth ₹189.99 crore from Tata Power Renewable Energy. The influx of significant orders has kept investors focused on the company's business and renewable energy projects.
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