Solex Energy wins Rs 544-cr order from Spain but stock slips

Shares of NSE-listed Solex Energy slipped 5% on Monday even as the firm said it won an order worth Rs 544.62 crore. Solex Energy shares slipped 5% to Rs 1470.75 against the previous close of Rs 1548.15 on BSE. Market cap of the firm fell to Rs 1609.57 crore. Later, the stock closed 3.72% lower at Rs 1490.50. 

“Solex Energy Limited has received a Work Order from group entities of the eminent Zelestra Group, headquartered in Spain and operating across more than 13 countries, including India, Spain, Italy, Chile, Peru, and the United States, ” said Solex. 

The order relates to the manufacture and supply of Solar PV Module and is to be completed by February 2026 and November 2026.

Solex Energy stock had a beta of 0.9 in the last one year, indicating low volatility during the period.  

In terms of technicals, the relative strength index (RSI) of Solex Energy stands at 49.3, signaling the stock is trading neither in the overbought nor in the oversold zone.

Solex Energy shares are trading lower than the 5 day, 10 Day, 20 day, 30 day but higher than the 50 day, 100 day, 150 day and 200 day moving averages.        

Solex Energy is a manufacturer of solar photo-voltaic modules as well as engaged in the business of Engineering, Procurement and Construction (EPC) in the solar energy market, wherein the manufactured modules are utilized.