Energy stock Fujiyama Power Systems surged 5% to hit the upper circuit limit on Tuesday, June 2, amid a recovery in the Indian equity markets. The rally in the stock coincided with a sharp rebound in benchmark indices, with the Sensex gaining over 100 points and the Nifty 50 advancing more than 350 points after both opened in negative territory.
The stock opened at ₹302 apiece today, lower than its previous closing price of ₹304.60 on Monday. Although share price started the session in negative territory, it recovered during intraday trade on Tuesday and moved into the green.
Fujiyama Power Systems recent business updates
In an exchange filing dated 24 May, said that officials from the Bureau of Indian Standards (BIS) carried out 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. With guidance from its legal advisors, Fujiyama conducted an internal review to assess the potential impact and material significance of the matter.
In the absence of any further communication from BIS within a reasonable period, the company voluntarily informed the stock exchanges to maintain transparency. Fujiyama also stated that it fully cooperated with the authorities during the inspection and remains committed to providing any additional information or assistance required.
On 22 May, the company announced that the 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. The project entails an estimated investment of ₹350 crore, to be financed through a mix of debt and internal accruals.
“The approval of our 1.2 GW TopCon solar cell manufacturing facility at Ratlam marks an important milestone in Fujiyama’s growth journey. This expansion strengthens our backward integration, enhances cost control and ensures consistent availability of DCR-compliant solar cells,” said Pawan Kumar Garg, Chairman and Joint Managing Director.
Fujiyama Power Systems share price
The share price trend of 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 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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