Fujiyama Power Systems Surges on Market Rebound

Fujiyama Power Systems Surges 5% to Hit Upper Circuit Limit Amid Indian Equity Market Recovery

On Tuesday, June 2, the energy stock Fujiyama Power Systems experienced a significant surge of 5% to hit the upper circuit limit, coinciding with a recovery in the Indian equity markets. The benchmark indices, Sensex and Nifty 50, also saw a sharp rebound, with the Sensex gaining over 100 points and the Nifty 50 advancing more than 350 points after opening in negative territory. The stock opened at ₹302 apiece today, lower than its previous closing price of ₹304.60 on Monday.

Fujiyama Power Systems' recent business updates have been a subject of interest among investors. On May 24, the company filed an exchange notice stating that officials from the Bureau of Indian Standards (BIS) conducted an unannounced inspection at its Greater Noida facility on March 24. During the inspection, BIS initiated search-and-seizure proceedings, collected product samples for examination, and confiscated inventory valued at around ₹2.52 crore. The company noted that the details available at the time were preliminary and that it was awaiting a formal notice from BIS specifying the proposed actions.

In a separate development, on May 22, the company announced that its board has approved the proposal for setting up a 1.2 GW TopCon solar cell manufacturing facility at its Ratlam Plant in Madhya Pradesh. The company currently operates a 1 GW Mono PERC solar cell manufacturing facility at its Dadri plant in Uttar Pradesh. With the planned addition of a 1.2 GW TopCon manufacturing unit in Ratlam, Fujiyama is set to significantly enhance its integrated presence across the solar value chain. Commercial production at the Ratlam TopCon facility is expected to begin in the first quarter of FY2028, with an estimated investment of ₹350 crore, to be financed through a mix of debt and internal accruals.

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The company's share price trend has remained positive despite weak market sentiments. The energy stock has gained 7% in a week and nearly 8% in a month. Fujiyama Power Systems share price, which made its market debut in November 2025, has delivered 43% returns on a year-to-date (YTD) basis and 46% returns since listing. The energy stock was listed at ₹218.40, a discount of 4% to the IPO price.

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