The Ministry of New and Renewable Energy, Govt, of India has issued draft guidelines, for selection of 750 MW grid connected solar power projects under batch-I of phase-II.
As per the guidelines, the Govt. has decided that under batch-I of phase-II, the Govt, will incentivize 750 MW of solar power projects by way of viability gap funding which can go upto 30% of project cost.
Further, 375 MW capacity will be kept for bidding under “DCR” category which means that 375 MW will be compulsorily sourced from domestic manufacturers, thereby giving boost in demand for Indian solar cell and module manufactures.
The above seems to be the reason for upward movement of the share price of Company.
Shares of Indosolar Ltd last traded in BSE at Rs.3.30, up by Rs.0.30 or 10%. The stock hit an intraday high of Rs.3.30 and low of Rs.3.27.
The total traded quantity was 1.01 lakhs compared to 2 week average of 0.58 lakhs on October 14’th.