Vikran Engineering share price popped 15.40% to hit a 2-week high of ₹100 apiece during Wednesday's trading session, December 24, even as the broader markets remained range-bound as sentiment towards the counter boosted following a significant order win.
Today’s rally also marked the biggest single day jump for the stock since its listing in September.
The company, in its regulatory filing post-market hours on Tuesday, announced that it has received a major work order worth ₹2,035.26 crore from Onix Renewables Limited, a special purpose vehicle (SPV), for the development of 600 MW AC solar power projects across multiple locations in the state of Maharashtra.
This order is equivalent to approximately 95% of the company’s market capitalization of ₹2,233 as of Wednesday's close.
As per the company, the scope of work also includes the supply of key components such as solar PV modules and inverters, which is expected to be completed within a 12-month timeline.
This order win significantly enhances Vikran Engineering’s renewable energy portfolio and complements its established presence across power transmission and distribution, water infrastructure, and railway electrification, while also reinforcing the company’s strategic focus on scaling participation in large, complex infrastructure projects while maintaining high standards of execution and delivery.
Commenting on the development, Rakesh Markhedkar, Chairman and Managing Director, Vikran Engineering Limited, said, “This order marks an important milestone for Vikran Engineering and reflects the strong momentum we are witnessing in our renewable energy EPC business. It is a clear vote of confidence in our engineering depth, project management capabilities, and ability to deliver large-scale solar projects with speed and quality."
"This win meaningfully strengthens our order book and positions us well for sustained growth, as we continue to support India’s clean energy ambitions through reliable, timely, and sustainable infrastructure development," he further added.
Vikran Engineering share price trend
Vikran Engineering share price made its stock market debut in September 2025, listing at the IPO price of ₹97 apiece, but the momentum improved in the following months, with the stock rallying a cumulative 10% in the following two months.
However, the rally proved short-lived as the stock slipped into the selling zone in December. Although it surged sharply in today’s session, the gains were insufficient to turn the month positive, with the stock still down 10% for December and only marginally up 2% from its IPO price.
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