BOM:544418

Choice Equity Broking Downgrades Oswal Pumps to Add From Buy; Price Target is INR450

Oswal Pumps Unit Forms SPV for Rajasthan Solar Projects

Oswal Pumps (NSE:OSWALPUMPS, BOM:544418) said its wholly owned subsidiary, Oswal Solar Energy, has incorporated Oswal Doon Baran Bundi Solar Projects Ltd, according to a Thursday filing on Indian bourses.The SPV has been formed to execute rooftop solar projects on state government buildings in Rajasthan under a hybrid annuity model, the filing said.Oswal Solar holds 60% stake in the SPV, while Doon Infrapower Projects holds the remaining 40% stake, it added.

Oswal Pumps Gets Empanelment for Solar Pump Project in Maharashtra, India

Oswal Pumps (NSE:OSWALPUMPS, BOM:544418) received a letter of empanelment from Maharashtra State Electricity Distribution for supply of 6,896 off-grid solar water pumping systems, according to a Wednesday filing on Indian bourses.The project is valued at about 1.62 billion Indian rupees including GST, the filing said.The scope includes design, manufacture, supply, installation and commissioning of solar pumps across Maharashtra, along with five-year maintenance and monitoring support.The work is to be executed within one year, with installations to be completed within 60 days of individual work orders, it added.