Latest news with #LOA
Business Upturn
12-06-2025
- Business
- Business Upturn
SEPC shares gain 5% after Rs 650 crore solar project win in Maharashtra
By Aman Shukla Published on June 12, 2025, 09:39 IST SEPC shares rose 5% in early trade on June 12, 2025, following the announcement of a major ₹650 crore EPC contract win from Parmeshi Urja Limited. The Kolkata-based energy firm has awarded SEPC the responsibility for executing a 133 MW AC solar power project across 26 locations in four districts of Maharashtra. As of 9:37 AM, the shares were trading 5.74% higher at Rs 14.55. The Letter of Award (LOA) was officially received by SEPC on the evening of June 10. This contract marks a significant step forward for the company in expanding its footprint in India's renewable energy sector. Under the agreement, SEPC will handle full Engineering, Procurement, and Construction (EPC) duties, covering all aspects of infrastructure development for solar energy generation. The project is classified as a domestic assignment and aligns with the government's broader push toward clean energy adoption. Execution timelines for each site will be finalized through individual kick-off meetings. The large-scale project is expected to boost SEPC's order book and enhance its profile as a key player in the green energy space. SEPC shares opened at ₹15.00 and touched the same mark as the intraday high, while the low was recorded at ₹14.35. The stock continues to show limited movement in early trade. Over the past year, SEPC has seen a 52-week high of ₹31.53 and a low of ₹11.19. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
New Straits Times
11-06-2025
- Business
- New Straits Times
Vizione, Permaju Property mutually agree to terminate RM490mil deal
KUALA LUMPUR: Vizione Holdings Bhd has mutually agreed with Permaju Property Sdn Bhd to terminate a previously accepted letter of award (LOA) worth RM490 million effective immediately. In a filing with Bursa Malaysia today, Vizione said the decision came after Permaju opted to re-submit the project's development plans to authorities, prompting both parties to reassess the project's commercial viability. "No work under the LOA had commenced and the company did not incur any material cost since its acceptance on Dec 7, 2023," the company noted. It added that the termination will not have any material impact on its earnings per share or net assets per share. Its shares fell 6.67 per cent or half a sen to seven sen from the previous closing price of 7.5 sen, bringing its market capitalisation to RM36 million.
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Business Standard
10-06-2025
- Business
- Business Standard
Reliance Power hits over 10-year high, stock zooms 85% in 1 month
Shares of Reliance Power continued their upward movement, with the stock hitting over a 10-year high of ₹71.35, as they rallied 11 per cent on the BSE in Tuesday's intra-day trade amid heavy volumes. The stock price of the power generation company is trading at its highest level since November 2014. The market price of Anil Ambani's Reliance group company gained for the third straight day, surging 17 per cent during the period. In the past month, the stock zoomed 85 per cent on the BSE. At 10:49 AM, Reliance Power was trading 8 per cent higher at ₹69.96, as compared to a 0.05 per cent rise in the BSE Sensex. The counter had seen huge trading volumes, with a combined 266.22 million equity shares representing 6.5 per cent of the total equity of Reliance Power, changing hands on the NSE and BSE. Track LIVE Stock Market Updates Here Retail investors hold nearly 50% in Reliance Power Retail investors are holding nearly 50 per cent stake in Reliance Power as of May 7, 2025, the exchange data shows. Resident individuals holding nominal share capital up to ₹2 lakh (27.02 per cent) and resident individuals holding nominal share capital over ₹2 lakh (21.59 per cent) collectively held a 48.61 per cent stake. Life Insurance Corporation of India (LIC) held a 2.49 per cent stake, while VFSI Holdings PTE LTD held a 4.99 per cent stake in Reliance Power, data shows. Reliance Infrastructure, the promoter of Reliance Power, holds a 24.90 per cent stake. What's driving the over 80% rally in Reliance Power shares? On May 9, 2025, Reliance Power posted a consolidated net profit of ₹126 crore in the fourth quarter of the previous fiscal (Q4FY25), aided by lower expenses, compared to a loss of ₹397.56 crore in Q4FY24. Total income declined to ₹2,066 crore from ₹2,194 crore a year earlier. Reliance Power's debt-to-equity is among the lowest in the industry, reduced from 1.61:1 in FY24 to 0.88:1 in FY25. Further, Reliance NU Suntech, a unit of Reliance Power, has signed a 25-year Power Purchase Agreement with SECI to develop Asia's largest integrated solar and battery energy storage project. The ₹10,000 crore project will include 930 megawatt (Mw) of solar capacity and 465 MW/1860 MWh of storage, operating at a fixed tariff of ₹3.53/kWh. On May 28, 2025, unit Reliance NU Energies Private (Reliance NU Energies) received the Letter of Award (LOA) from SJVN, for a 350 Mw inter-state transmission system (ISTS)-connected solar power project coupled with a 175 Mw/700 MWh Battery Energy Storage System (BESS). The same unit had earlier emerged as the successful bidder in the competitive auction conducted by SJVN, securing the project at a fixed tariff of ₹3.33/kWh for a period of 25 years. On December 31, 2024, Sasan Power, a Reliance Power subsidiary, repaid $150 million to IIFCL, UK. The company said the payment strengthens debt coverage, boosts liquidity, and supports credit rating improvement. Reliance Power growth opportunities India plans to add about 80 gigawatt (Gw) of new coal-based thermal power capacity by 2031–32 to meet rising electricity demand, according to the National Electricity Plan. Reliance Power, in its FY24 annual report, said this renewed focus presents growth opportunities for thermal players. Increasing electrification, rising per-capita power use, and EV adoption are expected to drive power demand. Meanwhile, India also targets 500 Gw of non-fossil capacity by 2030 as part of its energy transition.
Business Standard
03-06-2025
- Business
- Business Standard
Waaree Renewables Technologies wins order of Rs 346.33 cr
For solar power project of 300 MW AC/435 MW DC capacityWaaree Renewables Technologies has been awarded Letter of Award (LOA) for the execution of Engineering, Procurement and Construction (EPC) works of solar power project of 300 MW AC/435 MW DC capacity. The value of the order is Rs 346.33 crore. Powered by Capital Market - Live News
Business Upturn
03-06-2025
- Business
- Business Upturn
Waaree Renewables shares jump 4% on securing Rs 346 crore solar project
Shares of Waaree Renewables Technologies Ltd jumped nearly 4% in morning trade after the company announced it had secured a significant Letter of Award (LOA) for a large-scale solar project. The contract involves the Engineering, Procurement, and Construction (EPC) of a 300 MW AC / 435 MW DC ground-mounted solar power project awarded by a domestic renewable energy generation company. The total value of the contract is approximately ₹346.33 crore, excluding taxes, marking a notable addition to Waaree's growing portfolio of solar infrastructure projects. This order strengthens the company's position as a key player in India's renewable energy sector, particularly in utility-scale solar EPC execution. Advertisement This commercial order, entirely domestic in nature, is scheduled to be executed during the financial year 2025–26, further boosting Waaree's order book and revenue visibility for the upcoming fiscal period. Investors responded positively to the news, reflecting confidence in the company's execution capabilities and future growth potential. Waaree Renewables shares opened at ₹1,025.00, hitting a high of ₹1,067.70 and a low of ₹1,022.10 during the session. The stock remains close to its 52-week high of ₹1,170.00, indicating strong upward momentum. Its 52-week low stands at ₹841.15. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
