Oriana Power Shares Surge 9% After MoU with Rajasthan Govt for Renewable Energy Projects

Oriana Power share price jumped nearly 9%, reaching ₹2,699.95 per share on the NSE during intraday trading on Tuesday. This surge came after the company signed a MoU (memorandum of understanding) with the Rajasthan government under the “Rising Rajasthan 2024” initiative. The agreement, valued at ₹10,000 crore, explores investment opportunities in renewable energy projects, which includes solar power, floating solar, green hydrogen, and energy storage solutions.

Strategic Vision for Renewable Energy

Oriana Power stated that this partnership aligns with its goal to contribute to India’s renewable energy targets and become a leader in clean energy infrastructure. The company aims to advance cutting-edge technologies like green hydrogen and energy storage.

Strong Financial Performance

Oriana Power reported impressive financial results for the first half of FY25. Its revenue grew significantly to ₹359.54 crore from ₹64.06 crore in H1 FY24. The Profit After Tax (PAT) surged to ₹48.57 crore, showing an 8.48 times growth from the previous year. The company’s operational efficiency also improved, with EBITDA increasing 6.5 times to ₹78.40 crore.

Debt Management and Key Projects

The company’s debt-to-equity ratio improved to 0.69, down from 1.67 last year, reflecting strong financial management. Oriana Power currently has 518+ MW of projects under execution and a pipeline of over 1,500 MW. Key projects include a 100 MW Solar Park in Haryana and partnerships in green hydrogen electrolyser manufacturing.

Oriana Power share price is currently ₹2,621.05, up by ₹139.40 (5.62%) as of December 17, 2024, at 11:14 AM. The stock has seen a day’s range between ₹2,580.00 and ₹2,699.95, with a previous close of ₹2,481.65 and an opening price of ₹2,583.00. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.