Surana Telecom and Power has received Letter of Award (LoA) for Rs 600 million approx from Karanataka Renewable Energy Development (KREDL) for development of 10MW Solar Power Project in Tingloor Village, Madhugiri Taluq, Tumkur District.

The stock had underperformed the market over the past one month till Nov. 26, 2014, rising 3.03% compared with the Sensex's 5.72% rise. It underperformed the market in past one quarter, gaining 5.92% as against 7.35% rise in the Sensex.

Shares of the company declined Rs 0.6, or 5.85%, to trade at Rs 9.65. The total volume of shares traded was 99,568 at the BSE (2.25 p.m., Thursday).