Delhi, December 17, 2024 (Navroze Bureau) – The stock of electrical equipment manufacturing company RMC Switchgears hit a 5% upper circuit on December 17, after which the company’s shares reached an all-time high of Rs 1159.65. This surge came after the news of the company getting a contract to supply 5000 solar panels in Maharashtra. Within 6 months, the stock of RMC Switchgears has doubled the investors’ money.
Received an order worth 90 crores
In an exchange filing, RMC Switchgears said the company has received an LOA from a reputed system integrator for supply, installation and commissioning of 5,000 solar pumps in Maharashtra. The order worth Rs 90 crore includes 3 HP, 5 HP and 7 HP solar pump systems and is planned to be completed in FY 25-26.
Let us tell you that the company has recently announced to set up a solar module manufacturing plant in Jaipur, Rajasthan with an investment of Rs 100 crore. The company has installed more than 1,00,000 solar pumps.
7460% return in 3 years
The 52-week high of RMC Switchgears stock is Rs 1,159.65, which it made on 17 December 2024. The 52-week low is Rs 379.05. The market cap of the company is Rs 1,195.40 crore. Talking about the performance of the stock, it has increased by more than 10% in a week and 47% in 2 weeks, while the stock has climbed 47% in 1 month and 21% in 3 months. In the last 6 months, the stock has given a strong return of 100%. This year the stock has climbed up to 96% so far. In the last one year, the stock has jumped 94%. At the same time, the stock has given a great return of 541% in the last 2 years and 7460% in 3 years.