Vikran Engineering jumped over 13% after unit NOPL Solar signed a Rs 2,941 crore loan with IREDA to part-fund a 969 MWac solar project in Maharashtra. Total project cost Rs 4,201 crore, and NOPL award

What happened: Vikran Engineering shares rose over 13% on 13 October after its subsidiary NOPL Solar Projects signed a ₹2,941.19 crore loan agreement with IREDA to partly finance a solar project in Maharashtra. Key numbers: Loan ₹2,941.19 crore. Total project cost ₹4,201.70 crore. Project 969 MWac/1,163 MWp across 152 locations. EPC contract ₹3,517.98 crore. Why it matters: Analysts were divided. SBI Securities said the stock remains in a downtrend with support at ₹53 to 55 and resistance at ₹64 to 66. Motilal Oswal cited a positive divergence that could take it to ₹68 to 70.

Vikran Engineering shares rose over 13% on 13 October after its subsidiary NOPL Solar Projects signed a ₹2,941.19 crore loan agreement with IREDA to partly finance a solar project in Maharashtra.

Analysts were divided. SBI Securities said the stock remains in a downtrend with support at ₹53 to 55 and resistance at ₹64 to 66. Motilal Oswal cited a positive divergence that could take it to ₹68 to 70.