The Vikran Engineering share price saw a sharp jump of over 15% on December 24, driven by news of a significant order win. In the morning trading session, the stock climbed to Rs 99.96 per share, signaling a strong market response to the company’s latest announcement.
Market Performance
In stock market today trends, Vikran Engineering emerged as a clear focus among investors, with trading volumes spiking following the post-market announcement. This upward movement highlights the market’s attention to large-scale project wins and their impact on company valuation.
Vikran Engineering Wins Big Order
Vikran Engineering confirmed that it secured a Rs 2,035.26-crore order from Onix Renewables. The order covers a full turnkey EPC project for 600 MW AC across multiple locations in Maharashtra.
Key details of the order:
- Scope: Design, engineering, procurement, supply, erection, testing, and commissioning
- Includes: Supply of solar PV modules and inverter
- Completion timeline: 12 months
- Total consideration including GST and other taxes: Rs 2,216.40 crore
The value of this order is nearly equal to the company’s entire market capitalization of Rs 2,235 crore at the previous close, making it a milestone contract for Vikran Engineering.
Statement from the Company
Vikran Engineering’s Chairman and Managing Director, Rakesh Markhedkar, noted that the order reflects the company’s growing momentum in the renewable energy EPC sector. He emphasized that it strengthens the company’s order book and underscores its ability to deliver large-scale solar projects efficiently, supporting India’s clean energy initiatives.
The order also complements Vikran Engineering’s existing portfolio in power transmission, distribution, water infrastructure, and railway electrification. It reinforces the company’s focus on large, complex infrastructure projects while maintaining high standards of execution.
Credit Rating Upgrades
Alongside the order announcement, Vikran Engineering reported a credit rating upgrade by Infomerics Valuation and Rating Limited:
- Long-term bank facilities of Rs 140.40 crore upgraded to IVR A-/Stable from IVR BBB+/Stable
- Long-term/short-term bank facilities of Rs 280 crore revised to IVR A-/Stable/IVR A2+ from IVR BBB+/Stable/IVR A2
- Short-term bank facilities of Rs 40 crore upgraded to IVR A2+ from IVR A2
These upgrades reflect improved financial stability and stronger credibility in the market.
Vikran Engineering Share Price History
Since its listing on September 3 at Rs 99 per share, the stock has had notable fluctuations:
- IPO price: Rs 97 per share
- Initial surge to Rs 118.40 in November (20% above listing)
- Recent dip around 16% from peak before bouncing back
Today’s surge brings the stock slightly above its listing price, marking renewed investor confidence.
Summary
Vikran Engineering’s massive order win and credit rating upgrades have captured market attention, driving its share price higher in stock market today. With a strengthened order book and strategic positioning in renewable energy projects, the company is set to maintain visibility in the infrastructure sector.
Source: Moneycontrol
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