New Delhi, July 8 -- Oriana Power share price rallied nearly 5% on Tuesday after the company announced the receipt of Letter of Award (LOA) for a project from a subsidiary of state-run NTPC. The small-cap stock surged as much as 4.97% to Rs.2,196 apiece on the NSE.

Oriana Power said it has received Letter of Award (LOA) from NTPC Vidyut Vyapar Nigam Ltd (NVVN) for setting up of 125 MW/ 250 MWH standalone Battery Energy Storage Systems (BESS) at location provided at Giral Sub-Station in the state of Rajasthan with a Viability Gap Funding (VGF).

"The initiative of BESS will improve grid stability by balancing supply and demand, reducing the risk of blackouts, and enhancing overall grid efficiency. The project will be executed under the bu...