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Oswal Pumps Stock Surges on Telangana Govt Order, Nears Upper Circuit.
- •Shares of Oswal Pumps jumped over 8% on Wednesday after receiving a large order from the Telangana government.
- •The company secured a Letter of Intent from Telangana Renewable Energy Development Corporation Limited to install solar rooftop power plants in 9,937 government schools.
- •The project's total capacity will be 46,705 kilowatts (approximately 46.7 megawatts), including 2, 5, and 10-kilowatt plants.
- •The order value, including GST, is approximately ₹297.50 crore, with installation to be completed within 180 days.
- •Oswal Pumps, operating in solar pumps, electric pumps, motors, and solar modules, expects this order to boost its presence in Telangana.
Key Questions Answered
Oswal Pumps received a Letter of Intent from the Telangana Renewable Energy Development Corporation Limited to install solar rooftop power plants in 9,937 government schools across 33 districts. The total project capacity is 46,705 kilowatts, and it must be completed within 180 days. The project cost is ₹273.19 crore excluding GST, with a total value of approximately ₹297.50 crore including GST.
Following the announcement of the order from the Telangana government agency, Oswal Pumps shares saw a sharp jump of over 8%, reaching an intraday high of 296.35. Buying interest in the stock continued, maintaining gains of over 6% as it neared its 10% upper circuit limit of 300.95.
Oswal Pumps secured an additional order worth ₹235.92 crore, including GST, from the Maharashtra State Electricity Distribution Company Limited (MSEDCL) under the PM Kusum B Scheme. This project involves installing 10,000 off-grid DC solar photovoltaic water pumping systems across Maharashtra with a 60-day completion window.
