Urja Global is a penny stock that has generated a significant amount of wealth for its investors in a very short period of time. Urja global was first recommended as a penny stock in an article on Renewable Energy stocks and has gone up from less than Rs. 1 to Rs.11.
Although some correction has taken place and it/s still a risky bet because it’s a penny stock and such small companies are the first ones to collapse in case of a market correction but it’s still a worthy buy because of the following reasons:
- In 2017, the company got listed on NSE in addition to BSE where it was earlier listed. Most of the shell companies are listed on single exchanges as they find it difficult to meet compliance requirements of dual exchanges. Dual checks always help to ensure that the company is doing well.
- The company has won contracts for installation of Solar PV modules in a number of states. It will take some time before the company can establish itself as a leading player in the solar space but given the small size company that Urja Global is, it is noteworthy that it has received many contracts.
- It signed an MOU with Micromax for the supply of batteries on OEM basis.
- The company will seek approval for issue of Green Bonds for funding the Renewable Energy projects up to $ 500 Million.
- The company also stated that it will seek the approval for Listing of Green Bond, Equity Shares of Company at London Stock Exchange, NASDAQ and Singapore Stock Exchange.
The company is an approved channel partner of Ministry of New and Renewable Energy (MNRE), Government of India and makes or installs solar products such as Solar Home Lighting Systems, Solar Lanterns, Solar Street Lighting Systems, Roof Top Systems and Solar PV Panels.
With India betting heavily on solar, the price of such penny stocks in renewable energy space is set to rise further.
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