Vikram Solar shares hit a day high of Rs 147 on Thursday before closing lower, despite bagging a 187 MW solar module order in South India.

Vikram Solar Limited, a Kolkata-based solar panel maker, will supply 187 MW of panels to a leading Indian renewable energy developer.

The panels are for three solar sites across Karnataka and Tamil Nadu. MW, short for megawatt, measures how much power a project can produce.

The company has not named the customer or the order value. Delivery is due by December 2026. It is a domestic order and builds on an existing relationship with the same developer.

The panels use N-Type TOPCon G12R technology. In plain terms, they have glass on both sides and collect sunlight from the front and the back.

Their power ratings run from 615 to 625 Wp. That unit, watt peak, is a panel’s top output under test conditions.

Chief Executive Sameer Nagpal said buyers of large solar projects now care more about performance and reliability.

Sources noted that the order fits India’s push toward 500 GW of non-fossil power capacity.

The company says it is concentrating on high-efficiency cell manufacturing and on supplying large utility-scale projects.

The filing reached NSE at about 2:51 pm. By then, the shares had already slid from their opening high.

This is not the company’s only recent win. Sources reports a 400 MW order for agricultural feeder solar projects in Maharashtra on 28 September.

It also lists a 124 MW order for a project in Anantapur, Andhra Pradesh, on 11 September.

Vikram Solar closed at Rs 142.37 on NSE on Thursday, down by 2.98% from Wednesday’s close of Rs 146.75. The 52-week low stands at Rs 140.62, set on 13 October.

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