Vikran Engineering shares zoom nearly 10% after winning 45.75 MW AC capacity solar project bids in Madhya Pradesh

Shares of Vikran Engineering surged 9.5% to touch Rs 110.35 on the BSE on Monday, December 29, after the company announced that it had accepted Letters of Award (LOAs) for solar power projects worth 45.75 MW AC capacity in Madhya Pradesh.

The projects, granted under the PM KUSUM-C scheme by M.P. Urja Vikas Nigam Limited, will be implemented in Vidisha district for supplying power to Madhya Pradesh Power Management Company Limited (MPPMCL).

The solar power plants will be developed under the Surya Mitra Krishi Feeders Scheme, a feeder solarisation initiative supported by the Ministry of New and Renewable Energy. Vikran Engineering will serve as the Renewable Power Generator (RPG) for these grid-connected solar PV-based plants.


The awarded projects carry a power purchase agreement tenure of 25 years, with tariffs ranging between Rs 2.75 and Rs 2.80 per kilowatt-hour (kWh), as specified in the LOAs.

According to the company, the LOAs were issued by a domestic government entity, and the contracts are not classified as related party transactions. Vikran Engineering noted that this award further enhances its presence in decentralised and utility-scale solar projects, particularly those linked to national renewable energy programmes such as agricultural feeder solarisation.

Vikran Engineering share price performance

Over the past one week, the stock of Vikran Engineering has rallied sharply, gaining 17.93%, reflecting strong buying interest in the counter. The momentum has been sustained over a slightly longer timeframe as well, with the stock rising 14.61% over the last two weeks, underscoring a robust short-term uptrend.

Also read: Hindustan Copper shares surge 15% to lifetime high. Should traders chase the rally?