Power Mech Projects' stock price rose 2 percent in trade on May 29 after the firm announced it won an order from the state-run Bharat Heavy Electricals Ltd (BHEL).
BHEL awarded Power Mech Projects an order worth Rs 563.23 crore for the Kaiga Atomic Power Project.
At 1.15 pm, Power Mech shares were quoting at Rs 4,813.25 apiece on the NSE, higher by 2.2 percent.
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Power Mech will complete the civil, structural and architectural works of the turbine island package of 2x700 MWe PHWR Kaiga Atomic Power Project, Unit 5 and 6 in Karnataka. The duration of the contract is 32 months, as well as a 12-month guarantee period.
"This exciting opportunity represents a significant step forward for [the firm's] diversification of its existing capability into a new sector and the company's commitment to supporting the country's energy," said Power Mech.
Power Mech reported a net profit of Rs 84.4 crore for the March quarter, marking a 13.1 percent increase from Rs 74.6 crore in the same period last year. Revenue from operations rose by 10.9 percent to Rs 1,301.5 crore compared as against Rs 1,174.1 crore a year ago.
Over the past year, Power Mech Projects' stock has risen around 55 percent in trade, outperforming the benchmark index Nifty 50, which has gained 22 percent during the same time period.
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