(MENAFN- AsiaNet News)

Saatvik Green Energy and NILA Infrastructure saw strong gains on Wednesday on the back of bagging multi-crore orders. Saatvik shares rose 5% to ₹483 in morning trade on Wednesday. While Nila Infrastructure surged 11%, its best intra-day performance in over four months.

Saatvik Green Energy

Shares of Saatvik Green Energy hit a fresh high after the company secured multiple domestic orders worth a combined ₹707.62 crore for the supply of solar photovoltaic (PV) modules from several leading independent power producers (IPPs) and engineering, procurement, and construction (EPC) firms.

The first set of contracts, valued at ₹488 crore, has been awarded for the supply of solar PV modules to renowned IPPs and EPC players. Additionally, the company's subsidiary, Saatvik Solar Industries, has received repeat orders worth ₹219.62 crore from three prominent IPPs and EPCs for similar supplies.

All the orders are expected to be executed within FY26.

Retail sentiment on Stocktwits turned 'extremely bullish' from 'neutral' a session earlier, amid 'extremely high' market chatter.

Saatvik Green Energy's Sentiment Meter and Message Volumes at 11:45 a.m. IST on October 8 | Source: Stocktwits

On September 26, Saatvik Green Energy made soft market debut, listing at a 1% discount on the BSE with an opening price of ₹460 against its issue price of ₹465. Meanwhile, on the NSE, the stock is listed at par.

Nila Infrastructures

Nila Infrastructures received a Letter of Acceptance (LOA) from the Ahmedabad Municipal Corporation (AMC) for the development of a slum rehabilitation project under the Pradhan Mantri Awas Yojana on a public-private partnership (PPP) basis.

The project involves the construction of 728 housing units and 25 commercial shops. The total development cost is ₹105.02 crore, for which the company will receive Transferable Development Rights worth ₹56.51 crore and balance free-sale land measuring 4,209.67 sq. metres, valued at ₹48.51 crore.

The project is expected to be completed within 30 months.

Year-to-date, the stock has shed 13.3%.

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