Premier Energies Limited has commissioned India's largest solar cell manufacturing facility at Naidupeta, Andhra Pradesh, with a 7 GW N-type TOPCon G12R capacity. The facility has started trial runs and takes the company's total solar cell capacity to 10.6 GW, making Premier Energies the largest solar cell manufacturer in India. Spread across 101 acres and developed at a capital expenditure of ₹3,293 crore, the facility is designed for high-throughput, digitally enabled manufacturing and can produce approximately 88,000 solar cells per hour. As per Federal Bank, the facility is built for future-ready operations with potential upgrades to next-generation TOPCon+ technologies and is targeting average solar cell efficiency of approximately 25.8%.
The Sensex and Nifty remained steady in early trade as pharmaceutical stocks gained momentum while IT shares faced selling pressure. According to reports from The Financial Express, pharmaceutical companies such as Sun Pharma and Dr. Reddy's Laboratories witnessed heavy buying activity during the trading session, while select information technology stocks traded lower. The mixed performance reflected selective investor interest across different sectors.
UltraTech Cement emerged as the top gainer, zooming 4% on BSE during intraday trading. As reported by The Financial Express, the shares have remained in focus following the company's recent foray into the wires and cables business. The company invested ₹1,800 crore in its wire venture named Ultravolt and stated its aim to become one of the top two players in the segment within five years. DLF shares gained 4% intraday on optimism about demand outlook ahead of the upcoming festive season, with the real estate major benefiting from traditional buying patterns during October and November festivals.
Premier Energies shares were trading at ₹903.00 on BSE, compared to the previous close of ₹883.00, following the commissioning announcement. The stock hit an intraday high of ₹905.00 and intraday low of ₹878.10, with a net turnover of ₹89769883.00. The total number of shares traded during the day was 100688 in over 3402 trades. Commenting on the development, Mr. Chiranjeev Saluja, Managing Director, stated that commissioning India's largest solar cell manufacturing facility on time and within budget is an important execution milestone, while Mr. Sudhir Reddy emphasized the facility's role in strengthening supply-chain resilience and positioning the company to address demand for high-efficiency solar products in India and international markets.
Jaiprakash Power Ventures traded around 10% higher after the company announced it will pay ₹511 crores to the National Asset Reconstruction Company to settle insolvency proceedings. As reported by The Financial Express, the National Asset Reconstruction Company had filed a case against the company in February, alleging default of an amount relating to a corporate guarantee. Tega Industries traded around 9% higher after its wholly owned subsidiary Tega McNally Minerals Ltd. received an order worth ₹126 crores from Kalpataru Projects International. The order is expected to be executed within 14 months.
Protean eGov shares were locked in 20% upper circuit despite gaining 14% in the last 6 months and being down 21% year-to-date. According to The Financial Express, the shares had hit a 52-week high of ₹940 per share but have seen significant correction since then. The mixed performance across sectors reflected selective investor interest, with pharmaceutical and real estate stocks showing strength while IT and other sectors faced selling pressure in early trade.
