Tel Aviv Stock Exchange Surges Over 1%, Doral Energy Jumps 6.2%

The Tel Aviv Stock Exchange experienced a significant upward trend, with the TA-35 index climbing 1.3% and the TA-125 index adding 1%. Several companies saw notable gains, including Tower Semiconductor, which rose 5.7%, Next Vision up 4.9%, and Enlight, which added 3.2%.

Doral Energy was a standout performer, jumping 6.2% after connecting its Hadar Shan project to the electricity grid, signaling its readiness for commercial operation. The company anticipates annual revenues of NIS 150 million from this project, which includes 175 MW of production and 297 MWh of storage, with plans for further expansion.

Energix Renewables also reported substantial progress, signing 17-year electricity sales agreements in the United States for projects totaling an estimated 533 megawatts. These agreements are valued at $1.1 billion and are expected to commence commercial operation between the second quarter of 2027 and the second half of 2028.

In other business news, Dan acquired Mesi'ei Sasha, a bus and minibus company operating over 200 vehicles with estimated annual revenues of NIS 200 million, for NIS 180 million. Shufersal's real estate arm, Aero Real Estate, secured land near the "City of Training Bases" for NIS 25 million to construct a 16,000 square meter commercial center.

Additionally, Max Stock shareholders approved a significant increase in CEO Uri Max's annual compensation to NIS 7.8 million, including monthly management fees, options, and restricted stock. Tzachi Artzi is set to become the new CEO of the non-bank credit company, with proposed annual compensation of NIS 4 million plus a NIS 600,000 signing bonus, contingent on performance and separate approval.

Bezeq won a government tender to provide communication infrastructure for ministries, a four-year contract potentially extending to ten years, supporting initiatives like the Nimbus cloud project. Long-term government bonds saw a rise, with the 10-year Israeli government bond yield decreasing to 3.947%. Sol-רום received a NIS 600,000 follow-on order for developing advanced laser technology, and Afcon received an additional NIS 100 million in work from Israel Railways for a project now valued at NIS 560 million.