Shares of Power Mech Projects surged over 5 percent on January 1 after the company won an order worth Rs 294 crore from Adani Power. The domestic order involves providing overhauling services, condition assessment, erection, testing, commissioning, and manpower support for the Performance Guarantee Test of the Steam Generator (SG), Steam Turbine Generator (STG), and their auxiliaries.
At 11.52 am, shares of Power Mech Projects were trading at Rs 2,662.25 on the NSE. The surge in the stock was also aided by strong trading volumes in the counter. As much as 62,000 shares changed hands so far, already exceeding the one month daily traded average of 53,000 shares.
Follow our market blog to catch all the live action
Last week, the company bagged another order worth Rs 186 crore order from Jaiprakash Power Ventures to provide field operation and maintenance services for the 2 x 660MW Jaypee Nigrie Super Thermal Power Plant in Madhya Pradesh over a five-year period.
The company specialises in erection works, operation and maintenance services, and civil works, offering solutions for the power and infrastructure sectors.
In Q2 FY25, the company reported a 35.6 percent growth in its consolidated net profit to Rs 69.51 crore, up from Rs 51.26 crore in the same quarter last year. Revenue from operations grew 11.04 percent on year to Rs 1,035.49 crore in the September quarter.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
