These days the stock market is trading in a range-bound manner. Nifty has shown good support in the 24900-25000 zone but now this support zone is getting hit repeatedly. There is selling on every rise in the market. Nifty closed at Rs 24,971.30 on Wednesday after a fall of 86 points.
Meanwhile, stock-based news flow continued in the market. TCM Limited on Wednesday announced that it has received a significant work order from Mahindra Holidays and Resorts India Limited for the design, supply, installation, and commissioning of a 90 kW grid-connected solar power plant at their Club Mahindra Resort in Arukutty, Kerala.

This stock has been on a stormy rise for the last one month. Shares of TCM Ltd closed at Rs 61.15 on Wednesday with a gain of 6%. This stock has given a return of 38% in the last one month.

This order worth Rs 37,89,458 to the company is part of the company's ongoing efforts to expand its presence in the renewable energy sector. The project is expected to be completed within 60 days from the date of the work order, with key terms and conditions including 10 10-year panel warranty, 25-year performance warranty, and 7-year inverter warranty.

TCM Limited is confident of its ability to deliver high-quality and efficient solar energy solutions that will meet the specific requirements of Mahindra Holidays & Resorts India Limited.

Earlier, the Company was awarded a contract by Mahindra Holidays & Resorts India Limited for designing, supplying, installing, and commissioning a 300 kW grid-connected solar energy plant at their renowned Club Mahindra Resort at Cherai Beach, Kerala. The project strengthens the Company's position as a leading renewable energy solutions provider and expands our presence in the hospitality space. The order worth Rs. 1,26,31,459 includes a 60-day delivery timeline, guaranteed annual energy generation of 4 units per kWh, and a comprehensive warranty for solar panels, inverters, and other components.

TCM Limited manufactures medical products, and GPS automatic headlight beam assist systems for vehicles under the brand name ENSO and is engaged in the business of solar energy plant installation and commissioning.

The shareholding pattern of the company is 49.51 percent with promoters holding 49.51 percent. DIIs hold 7.44 percent, of which Life Insurance Corporation of India holds 7.41 percent and the rest is held by the general public which is 43.05 percent till June 2024.

On Wednesday, shares of TCM Limited rose 7.75 percent to Rs 62.21 per share from its previous close of Rs 57.74 per share. The stock has a 52-week high of Rs 66.97 and a 52-week low of Rs 39.26. The company's shares gained more than 3.50 times on the BSE and rose 58.5 percent from its 52-week low of Rs 39.26 per share.