India, March 9 -- A micro-cap renewable energy stock gained around 7 percent after securing a Rs 1,180 crore EPC contract to develop a large floating solar project at Jharkhand's Maithon Dam. The company has also reported a strong 149 percent year-on-year growth in profits, highlighting rapid business expansion and strong execution in the renewable energy sector.

With a market cap of more than Rs 3,800 Cr, Oriana Power Ltd saw its stock hit an intraday high of Rs 1,929 which is percent higher than the previous close of Rs 1,795. The stock is current trading around the PE of 17 which is lesser than the industry PE of 23.

News Oriana Power Limited has secured a contract to set up a 234 MW Grid-Tied Floating Solar PV plant at the Maithon D...