Shares of Surya Roshni Ltd had been buying and selling 3% increased on 10 January after the corporate introduced securing a brand new order price Rs 81 crore.
Bharat Petroleum Company Ltd. (BPCL) has granted a contract for the availability of API SL PSL2 LPE Coated Line Pipes, with diameters starting from 4 to 16 inches, all through PAN India. Supply is anticipated in 16 weeks, and the overall contract worth, together with GST, is Rs 81.47 crores.
This order is a major win as a result of it demonstrates that BPCL trusts the enterprise to supply the specialised line pipes it requires for its operations.
The corporate that awarded the contract has no stake within the promoter, promoter group, or group corporations. Moreover, it’s confirmed that the order is at “arm’s size” and isn’t thought of a associated get together transaction. The corporate’s dominating place within the supply of important infrastructure parts for the vitality business is demonstrated by this home settlement.
India’s photo voltaic vitality sector is increasing quickly as a result of nation’s bold renewable vitality targets. In an effort to scale back its carbon footprint and transition to greener vitality, India, the world’s third-largest producer of carbon dioxide, is more and more turning to photo voltaic vitality. Due to its plentiful sunshine, sort legal guidelines, and important investments in photo voltaic infrastructure, India has grow to be a worldwide chief within the set up of photo voltaic capability.
Surya Roshni Restricted was included in 1973 and has since developed into a major participant within the Indian industrial sector. The corporate is India’s largest exporter of electrical resistance welded (ERW) pipes, its largest producer of galvanized iron (GI) pipes, and its second-largest producer of lighting. Surya Roshni needs to broaden the number of value-added merchandise it sells, together with pipes coated with 3LPE and Alkyd. With a dominant 60% market share in ERW pipe exports, the agency is the main producer of ERW GI pipes in India.
Concerning GI pipes, Surya Roshni is among the many high three in North India and a regional chief in South India. The states the place the corporate is ranked highest embrace Andhra Pradesh, Telangana, Madhya Pradesh, Chhattisgarh, Uttar Pradesh, and Jharkhand. In states like Karnataka, Delhi, Maharashtra, Bihar, Rajasthan, and Uttarakhand, it ranks second.
The photo voltaic enterprise is receiving important assist from authorities coverage within the type of tax breaks, subsidies, and beneficial legal guidelines. Applications such because the Renewable Buy Obligations (RPO), the Manufacturing-Linked Incentive (PLI) program, and tax rebates for photo voltaic gear are encouraging home manufacturing and the utilization of renewable vitality.
At 12:42 pm, the shares of Surya Roshni had been buying and selling 0.21% increased at Rs 256.30 on NSE.
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