Premier Energies share price surge nearly 7% today. Know why

Premier Energies share price has risen 37% since getting listed on the stock market in September.

In Short

• Premier Energies share price rises 7% following major order announcement
• Company has secured contracts worth Rs 560 crore
• Stock has surged 37% since IPO, outperforming Nifty index

Shares of Premier Energies continued their upward momentum on November 5, gaining 7% after the company announced substantial orders for its subsidiaries, Premier Energies International and Premier Energies Photovoltaic.

The firms secured contracts totaling Rs 560 crore from major Independent Power Producers (IPPs) and other clients.

At 12:53 pm, shares were up 6.50% at Rs 1,143.70 on the Bombay Stock Exchange (BSE). Earlier in the day, at 9:25 am, the stock had traded slightly higher at Rs 1,082 on the National Stock Exchange (NSE).

According to a stock exchange filing, the new orders consist of Rs 513 crore for solar modules and Rs 47 crore for solar cells, with module deliveries scheduled to commence in December 2024.

In the past month, both subsidiaries received and accepted additional orders worth Rs 765 crore, including Rs 632 crore for solar modules and Rs 133 crore for solar cells, with deliveries slated to begin in July 2025.

Founded in April 1995, Premier Energies specialises in manufacturing integrated solar cells and solar panels, offering a diverse product range that includes solar modules, bifacial modules, EPC solutions, and O&M solutions. The company operates five manufacturing facilities in Hyderabad, Telangana.

Premier Energies made its market debut earlier this year, with its initial public offering (IPO) running from August 27 to August 29, raising approximately Rs 2,830.40 crore. This included a fresh share sale of Rs 1,291.40 crore and an offer for sale of 3.42 crore shares.

Since its listing in September, the stock has surged by around 37%, outperforming the Nifty index during the same period.