Introduction:
Leading player in the renewable energy sector has secured a ₹90 crore order to supply, install, and commission 5,000 solar pumps in Maharashtra. This significant project supports the state’s clean energy goals and sustainable agricultural development.
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Share price movement of RMC Switchgears:
On December 17, 2024, RMC Switchgears Ltd opened at ₹1,146.95, up 3.84% from its previous close of ₹1,104.45. The stock reached a high of ₹1,159.65 (5.00%) and a low of ₹1,126.25. By 1:13 PM, it traded at ₹1,159.65, reflecting a 5.00% increase.
RMC secures ₹90 crore solar pump order:
RMC Switchgears Limited has secured a ₹90 crore Letter of Acceptance (LOA) for the supply, installation, and commissioning of 5,000 solar pumps in Maharashtra. The order includes 3HP, 5HP, and 7HP systems and is scheduled for completion in FY25-26.
This significant order positions RMC as a key player in Maharashtra’s ambitious clean energy drive, which aims to deploy 1.5 million solar pumps. The project supports sustainable irrigation solutions for farmers, contributing to India’s renewable energy goals and agricultural transformation.
RMC’s success aligns with its vision of expanding its Solar EPC and IPP footprint. The company’s recent ₹100 crore investment in a Solar Module Manufacturing Plant in Jaipur further strengthens its capabilities, supporting large-scale projects like this solar pump initiative.
Recent news on RMC Switchgears:
As of December 16, 2024, RMC Switchgears Ltd. announced plans to establish a ₹100 crore Solar Module Manufacturing Plant in Jaipur, Rajasthan, with 1 GWp annual production capacity, set to be operational by July 2025, reinforcing its renewable energy focus.
Stock performance of RMC Switchgears for Period of 1 week, 6 months and 1 year:
RMC Switchgears Ltd has demonstrated strong performance, with a 4.96% return over the past week, 71.1% over the last six months, and an impressive 88.6% return over the past year, reflecting substantial growth and investor confidence.
Shareholding pattern of RMC Switchgears:
| All values in % | Sep 2024 | Mar 2024 |
| Promoter | 52.90% | 52.90% |
| FII | 3.40% | 2.70% |
| DII | 0.90% | 1% |
| Public | 42.80% | 43.60% |
About RMC Switchgears:
RMC Switchgears Ltd. (BSE: 540358) was incorporated in 1994 as RFH Metal Castings. The company designs and manufactures energy meter enclosures, distribution boxes, switchgears, and other power distribution products, specializing in mild steel, stainless steel, and composite materials.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
