Amara Raja Group’s arm secures a solar project worth USD 130 million in Bangladesh!

Amara Raja Group’s subsidiary – Amara Raja Infra has secured a new solar project worth USD 130 million in Bangladesh. The venture serves as Amara Raja Infra’s entry into the international solar market, marking a new milestone for the company. The scope of the project consists of the Engineering, Design, Supply, Installation, and Commissioning of a 100 MW (AC) Solar PV Power Plant will be funded by the Exim Bank of India.  

Amara Raja Infra in collaboration with Premier Solar of Hyderabad, secured the project from Rural Power Company (RPCL) in Bangladesh. The project spans 326 acres at Madarganj in Jamalpur District and will be completed in the next 18 months. After the project is commissioned, Amara Raja Infra will also provide comprehensive operation and maintenance services for two years, along with warranty spares and consumables. 

Amara Raja Batteries is the flagship company of the Amara Raja Group and is engaged in the manufacturing of industrial and automotive batteries. The company was the first to introduce Valve Regulated Lead Acid (VRLA) batteries with a three-year warranty in industrial and automotive applications. 

Today, the stock opened at Rs 653.80, with a high and low of Rs 658.60 and Rs 653.10 respectively. The stock is currently trading at Rs 658.25, up by 0.68%. In the last 6 months, the shares of the company have given more than 13% returns, and on a YTD basis, the stock has given about 10% returns.  

The stock has a 52-week high of Rs 669.95 and a 52-week low of Rs 455.90. The company has a ROCE of 20.2% and an ROE of 14.8% with a market capitalisation of Rs 11,228 crore. The stock has shown impressive growth and investors should keep a close eye on this stock.