The shares of Marson Ltd were locked in the 5% upper circuit at Rs 280.90 per share on Friday, 27 September 2024 after the company revealed that it had received a Rs.675 crore Letter of Intent (LoI) from Nacof Oorja.

In an exchange filing, Marsons Ltd said, “We are pleased to announce that our company has received a Letter of Intent from Nacof Oorja to develop a lSO MW(AC) Grid-Interactive Ground-Mounted Solar PV Power Generation Plant.”

This project, which consists of several units spread throughout several Rajasthani areas, is being carried out for RRECL under the KUSUM Scheme with the goal of giving agricultural consumers access to electricity during the day.

The project will be carried out in technical cooperation with “Aditya Clean Systems (P) Ltd,” a third party that will offer us technical assistance. 

According to the corporation, the project should be completed in 12 to 18 months.

The company added, “This marks a significant milestone for us as we make a strong entry into the renewable energy sector. We are confident that this is the beginning of significant growth in this promising segment.”

Shares of Marsons Ltd. have historically provided investors with strong returns. The share price of Marson Ltd. has increased by 3,398% so far this year, and during the last six months, it has increased by 680%.

Known for its electrical transformer expertise, Marsons Ltd. is a well-known Indian manufacturer that provides a wide range of goods, such as power and distribution transformers, furnace transformers, dry type transformers, special application transformers, solar transformers, and instrumental transformers.

Originally established as Marsons Electricals Limited in 1976, the company has a great name in the industry and is based in Kolkata, West Bengal. It has been in business for 60 years.
The company guarantees high standards for its goods with a fully functional laboratory that can test transformers up to 160 MVA and 220 kV class. 

At 11:22 am, the shares of Marsons were locked 5% higher at Rs 280.90 on NSE.

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