Premier Energies Ltd (NSE: PREMIERENE): After launching on the stock market September 3, last week, the shares of the energy solutions firm Premier Energies have seen a huge increase.
The company has recorded an increase of 41 percent in the past three days because investors are paying close attention to it.
Following an order of Rs 200 crore by the Yogi government of Uttar Pradesh, the shares have seen a massive increase.
8 Percent Rise On Monday
On Monday, stocks from Premier Energies opened at Rs 1,120. Just a couple of minutes later, it reached a new record at 1,190 rupees, with gains of over 8 percent.
Premier Energies has revealed that it has been awarded an order for Rs 215 crores in the Agriculture Department of the UP government.
In this particular contract, Premier Energies will supply 8,085 solar water pumping units in different districts of the state. It is expected to be completed by March 2025.
UP Government Gave An Order Of 200 Crores
Premier Energies Limited said in an exchange statement that they wanted to inform you that the company obtained an agreement from the Uttar Pradesh Agriculture Department for the installation, supply, and commissioning of 8085 solar-powered water pump systems across different districts in the state.
The system comes with a 5-year guarantee. The project, which is estimated at Rs 215 crore will be completed by the end of March 2025.
Order Received Under The PM-KUSUM Scheme
The company also stated that the initiative is part of the PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha and Utthan Mahabhiyan) scheme that is designed to provide the security of energy for farmers in India and keep India’s promise to increase the percentage of electricity installed generated from non-fossil fuel sources to 40 percent by 2030.
This makes up the Nationally Determined Contribution (INDC).
Quick Fact
| Company name | Premier Energies |
|---|---|
| Order received | ₹215 crore |
| Government body | UP Agriculture Department |
| Project details | 8,085 solar water pumps |
| Time | By March 2025 |
| Guarantee | 5 years |
| Scheme | PM-KUSUM |
| National goal | 40% non-fossil fuel by 2030 |
| Monday open | ₹1,120 |
| Monday high | ₹1,190 |
| Recent rise | 41% |
| Recent increase | 8% on Monday |
| Previous order | ₹200 crore |
| Focus area | Solar energy for agriculture |
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