Announced Sat, 27 Jun · 24:12 IST
Vikran Engineering bags INR 3,518 Cr solar EPC order from subsidiary NOPL
VIKRAN · price
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Price reaction · full curve 14 horizons · vs prior close
+8.2%1-day move
₹70.33
prior close
₹75.66
base price
After-mkt
timing
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-0.4-0.9-0.9+1.2+8.2+6.4+6.2+5.6+8.5+3.7+2.7———
Up moveDown movePending
AI summary
Vikran Engineering received a work order worth INR 3,517.98 Crores from its wholly-owned subsidiary NOPL Solar Projects for a 969 MW solar EPC project in Maharashtra, completion in 12 months. This replaces an older INR 2,035.26 Crores order from Onix Renewable, cancelled after Vikran acquired 100% of NOPL. About INR 388.67 Crores of work was already executed under the old order. The change is due to restructuring, not any dispute or performance issue.
Likely market impact
Large order win from related subsidiary (arm's length); prior contract cancelled but no material adverse impact on operations or finances.