Marsons Ltd, a leading player in the electrical transformer manufacturing industry, saw its shares locked in a 5% upper circuit on Friday, September 27, 2024, closing at ₹280.90 per share. The stock's surge follows the announcement that the company has secured a major project worth ₹675 crore from Nacof Oorja, driving positive market sentiment and boosting investor confidence.
Marsons Ltd wins ₹675 crore solar project
The upward movement in Marsons Ltd’s share price was triggered after the company announced that it had received a Letter of Intent (LoI) from Nacof Oorja. The project involves developing a 150 MW (AC) grid-interactive, ground-mounted solar power generation plant to be executed under the KUSUM Scheme, which aims to provide daytime power to agricultural consumers.
The project will be carried out in Rajasthan for RRECL, with technical collaboration from Aditya Clean Systems (P) Ltd. Marsons Ltd expects to complete the project within the next 12 to 18 months. This move signifies Marsons Ltd’s strong entry into the renewable energy sector, marking a major milestone for the company.
A new chapter in renewable energy
Marsons Ltd has expressed its excitement about venturing into the renewable energy segment, signalling this as the beginning of substantial growth in a promising industry. The company’s management said, "We are confident that this is the beginning of significant growth in this promising segment," reinforcing its commitment to expanding its portfolio in sustainable energy.
For investors looking to invest in stocks with growth potential, Marsons Ltd's strategic shift into renewable energy could present new opportunities. The company's involvement in a government-backed initiative like the KUSUM Scheme further strengthens its market position and enhances its growth prospects.
Marsons Ltd share price history
Historically, Marsons Ltd shares have been strong performers, providing remarkable returns to investors. The stock has risen a staggering 3,398% year-to-date, and a notable 680% over the past six months, showcasing the company's consistent ability to generate shareholder value.
Founded in 1976 and headquartered in Kolkata, Marsons Ltd is a trusted name in the electrical transformer market. The company manufactures a wide range of transformers, including power, distribution, furnace, solar, and dry type transformers. With a track record of supplying over 300,000 transformers globally, the company remains a key player in the industry.
Looking ahead: Potential for growth
At 10:11 AM on Friday, Marsons Ltd’s shares remained locked in the 5% upper circuit, reflecting strong investor demand. In contrast, the BSE Sensex was trading 0.11% higher at 85,927 points. With its proven ability to execute large-scale projects and its strategic foray into renewable energy, Marsons Ltd stands out as a company to watch in the coming years.
For those looking to invest in stocks with growth potential, Marsons Ltd’s latest developments offer exciting opportunities in traditional electrical manufacturing and the emerging renewable energy sector.
For android only