Shares of Premier Energies Ltd skyrocketed 16% on 5 September after the company announced an order for 8,085 solar water pumping systems across various districts of Uttar Pradesh. 

In its regulatory filing, the company said that they have secured an order from the Uttar Pradesh Department of Agriculture for the supply, installation, and commissioning with a five-year comprehensive warranty. 

The order is worth Rs 215 crore and has to be completed by March 2025. 

The company secured the order under the Component-B of the PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan) scheme that is aimed at ensuring energy security for Indian farmers. 

The scheme aligns with India’s commitment to increase its electric power capacity from non-fossil-fuel sources to 40% by 2030.

At 1:56 pm, the shares of Premier Energies were trading 13.03% higher at Rs 951.60 on NSE. 

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