Shares of TaylorMade Renewables Energy hit a new high of Rs 163.50 after rising 5% on the BSE at 12:14 pm on Thursday amid a weak market. About 24,000 shares have changed hands, with 12,000 pending buy orders on the BSE.
The stock has risen 131% over the past month, compared with a 1.7% decline in the S&P BSE Sensex. Over the past three months, it has soared 358% while the benchmark index fell 6%. Moreover, it has soared nearly 900% over the past six months, while the Sensex has gained just 0.17%.
TaylorMade Renewables Energy announced on Thursday that the company had been selected for the Excellence in Hazardous Wastewater Treatment Award, which Gujarat Chief Minister Bhupendra Bhai Patel will present on March 3, 2023. Dharmendra Gor, Chairman and Managing Director of the company, will deliver the award.
Also, on February 23, 2023, TaylorMade Renewables Energy announced receiving a new work order worth Rs 13.06 crore from Dodhia Chem-Tex Pvt Ltd in Mumbai, Maharashtra. The company said the total work order, including this one, is Rs 28 crore.
TaylorMade Renewables Energy is India’s leading provider of renewable energy. Solar concentrators and CPC collectors for thermal energy, pan and box cookers, Eco chullas and biomass gasifiers, solar CPC, photovoltaic cells and modules from Linuo-Ritter, and solar dryers.
The company has a new product, “TRL-RAIN”. TRL-RAIN technology is a process that removes salt and other chemicals from water to provide fresh water for various applications in industry, making the industry a true ZLD unit.
“A push towards rural electrification, with a particular focus on solar and decentralized distributed generation (DDG) of renewable energy, will, among other things, increase electricity penetration in the country, thereby further driving demand. With timely government intervention India is addressing issues that have adversely affected the power sector, the outlook for the sector is quite positive, and there are ample market opportunities for financial products,” the company said in its FY22 annual report.
With the depletion of fossil fuels and the environmental hazards associated with coal-fired thermal power plants, priorities are shifting to harnessing renewable energy. The company is designing mechanisms to harness renewable energy, particularly solar development.
TaylorMade Renewables Energy trades on the BSE’s SME segment under group ‘M’. The trading, clearing and settlement of the SME segment are carried out on a T+1 basis. Trades made in BSE SME stocks must be forced to settle in demat mode. The market lot size for a stock is 4,000 shares.
As of September 30, 2022, TaylorMade Renewables Energy had 9.8 million shares outstanding. The promoters hold a 62.69% stake in the company. The shareholding pattern data shows that the remaining 37.31% of shares are held by individual shareholders (24.51%) and corporate bodies (12.27%).