Vikran Engineering Limited has received an contract worth ₹459.20 crore from NTPC Renewable Energy Limited for a 400 MW AC grid-connected solar project in Chitrakoot, Uttar Pradesh, the company declared on Thursday, December 25.In an exchange filing, the company said the contract covers engineering, procurement and construction (EPC) on a balance-of-system (BoS) basis for the Chitrakoot-1 project. The scope includes inland transportation, insurance, installation, testing, commissioning and guarantee tests. The order value is ₹459.20 crore, excluding GST, and is to be executed within 12 months.
Vikran Engineering clarified that the contract has been awarded by a domestic entity and does not involve any promoter interest or related-party transactions.
The latest win adds to Vikran’s growing order book in the utility-scale solar segment. Earlier this week, the company had secured a ₹2,035 crore EPC order for a 600 MW solar project, reinforcing momentum in large renewable projects and its expanding engagement with public-sector counterparties.Shares of Vikran Engineering had already seen strong buying interest earlier in the week after the large order from Onix Renewables Limited, valued at nearly its entire market capitalisation. The stock surged as much as 14% on Wednesday, December 23, and extended gains in the following session, ending 10.94% higher at ₹96.13 on December 24.
Vikran Engineering clarified that the contract has been awarded by a domestic entity and does not involve any promoter interest or related-party transactions.
The latest win adds to Vikran’s growing order book in the utility-scale solar segment. Earlier this week, the company had secured a ₹2,035 crore EPC order for a 600 MW solar project, reinforcing momentum in large renewable projects and its expanding engagement with public-sector counterparties.Shares of Vikran Engineering had already seen strong buying interest earlier in the week after the large order from Onix Renewables Limited, valued at nearly its entire market capitalisation. The stock surged as much as 14% on Wednesday, December 23, and extended gains in the following session, ending 10.94% higher at ₹96.13 on December 24.
The rally preceded Thursday’s announcement of the ₹459.20 crore NTPC Renewable Energy order.
