Introduction:
Leading renewable energy firm has signed a ₹10,000 crore MoU with the Rajasthan government under “Rising Rajasthan 2024.” The agreement targets solar power, floating solar, green hydrogen, and energy storage, driving India’s clean energy transition forward.
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Share price movement of Oriana Power:
On December 17, 2024, Oriana Power Limited opened at ₹2,583.00, up 4.08% from its previous close of ₹2,481.65. The stock reached a high of ₹2,699.95 (8.79%) and a low of ₹2,580.00. By 9:47 AM, it traded at ₹2,652.05, a 6.87% increase, with a market cap of ₹5,388.74 crore.
Oriana Power Signs ₹10,000 Crore MoU:
Oriana Power Limited has entered into a ₹10,000 crore agreement with the Rajasthan government under the “Rising Rajasthan 2024” initiative. The MoU focuses on renewable energy projects, including solar power, floating solar, green hydrogen, and energy storage solutions.
The company confirmed that discussions began in November 2024, culminating in the MoU signing on December 4, 2024. Oriana emphasized regulatory compliance, stating that all material information was disclosed and no unpublished price-sensitive details influenced trading activity.
Oriana highlighted the MoU as a significant milestone in advancing its clean energy strategy. However, it clarified that the agreement serves as a framework and does not guarantee immediate financial commitments, with project-specific updates to follow.
Recent news on Oriana Power:
As of November 19, 2024, Oriana Power secured contracts for nearly 20 MW solar projects from NTPC Vidyut Vyapar Nigam Limited, valued at ₹835.69 million, spanning Bihar, Jharkhand, and West Bengal, including rooftop and ground-mounted installations.
Ace investor holding in Oriana Power:
Renowned investor Anil Kumar Goel holds a 2.11% stake in Oriana Power Limited, owning 404,950 shares valued at ₹106.7 crore. His investment reflects confidence in the company’s potential within the renewable energy sector.
Stock performance of Oriana Power for Period of 1 week, 6 months and 1 year:
Oriana Power Limited delivered a modest 0.83% return over the past week, faced a 3.86% decline over six months, but showcased remarkable growth with a 364% return over the last year, reflecting strong long-term performance.
Shareholding pattern of Oriana Power:
| All values in % | Sep 2024 | Aug 2024 | Mar 2024 |
| Promoter | 61.40% | 58.00% | 61.40% |
| FII | 0.20% | 0.90% | 1.20% |
| DII | 0.00% | 0.90% | 1.90% |
| Public | 38.40% | 40.20% | 35.50% |
About Oriana Power:
Oriana Power Ltd. (NSE: ORIANA) specializes in solar energy solutions for industrial and commercial clients. Established in 2013, it offers rooftop, ground-mounted, and open-access solar projects under CAPEX and RESCO models, promoting low-carbon energy solutions.
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.
