India, Sept. 16 -- The Kolkata-headquartered solar company has struck another domestic cell-sourcing deal, this one worth well over a thousand crore rupees. It's not the first such move this year, and it fits into a broader backward-integration plan the company has already set in motion. The reasoning behind the timing and what it signals about the company's near-term cost pressures is worth digging into further.

Shares of Vikram Solar Limited Ltd are trading at Rs. 163.80, up 0.12 percent on Wednesday. The stock touched the intraday high of Rs. 166.63 after opening at Rs. 165.00 before slipping to a low of Rs. 161.00. The company commands a market capitalization of Rs. 5,935.36 crore.

Securing Domestic Cells Vikram Solar has just sec...