RMC Switchgears shares have surged, hitting the upper circuit at Rs. 807.55, marking a gain of 38.45 points or 5% from its previous close of Rs. 769.10 on the Bombay Stock Exchange (BSE).

The stock opened at Rs. 807.55 and remained at the same level throughout, with 7375 shares traded. This BSE 'M' category stock, with a face value of Rs. 10, reached its 52-week high of Rs. 1033.95 on August 23, 2024, and its low of Rs. 379.05 on March 27, 2024. Over the past week, the stock’s high and low levels were Rs. 807.55 and Rs. 691.10, respectively. The company's market capitalization currently stands at Rs. 832.45 crore, with a shareholding structure of 52.93% by promoters, 4.29% by institutions, and 42.78% by non-institutional investors.

RMC Switchgears recently signed a Memorandum of Understanding (MoU) with the Rajasthan Government to develop a 1000 MW Ultra Mega Solar Park with integrated battery storage in Jaipur. This pioneering project signifies the company’s strategic shift toward renewable energy, contributing significantly to its growth goals. It is expected to take around 2-3 years to complete, supporting RMC's ambition to achieve 1 GW in greenfield projects through a mix of EPC and IPP frameworks. The project aligns with India’s green energy vision and propels the company towards its Vision 2030 goal of a Rs. 5,000 crore valuation.

RMC Switchgears specializes in switchgear engineering, ECI contracts in power distribution and transmission, and PVC marble and solid surfaces.