Oriana Power Share Price Surges on LOA News from NTPC Subsidiary
Oriana Power's share price jumped nearly 5% after receiving a Letter of Award (LOA) from an NTPC subsidiary for a project. The project involves setting up battery energy storage systems in Rajasthan to enhance grid stability.
Oriana Power Share Price Rally
Oriana Power's share price surged by 4.97% on the news of receiving a Letter of Award (LOA) from NTPC Vidyut Vyapar Nigam Ltd for setting up battery energy storage systems. The project aims to improve grid stability and efficiency by balancing supply and demand, reducing blackout risks, and enhancing overall grid performance.
Project Details
The project will be executed under the Build-Own-Operate (BOO) model with a contract size of ₹465.15 crore over 12 years. The contract execution period is 18 months from the effective date of the Battery Energy Storage Purchase Agreement (BESPA).
Share Price Performance
Oriana Power's shares are listed on NSE Emerge and have seen a 4.3% decrease in the last month and a 4% decline year-to-date. The SME stock has dropped by 13% in the past year. At 10:30 AM, Oriana Power's share price was trading 4.92% higher at ₹2,195 apiece on the NSE.
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