Shares of Servotech Power Systems gained in early trade on October 8 to quote at Rs 171.25 on the NSE, up 0.38 percent, after the company announced that it has received an additional order to set up nine electric vehicle (EV) charging stations in Maharashtra.
A prominent player in the electric vehicle (EV) charging and solar solutions sector said in an exchange filing that it has secured order from the Nashik Municipal Corporation (NMC). It will increase the total number of EV charging stations set up by the company in the state to 29.
The company, in a statement on Monday, mentioned that this latest order follows a previous project awarded by the NMC, which involved the construction of 20 EV charging stations across Nashik. The expanded infrastructure is aimed at addressing the rising demand for convenient and reliable EV charging solutions in the region.
"This additional order comes at a time when the need for a robust EV charging network is critical to supporting both intercity and interstate travel. It will help us cater to the growing demand for clean and efficient energy solutions," Sarika Bhatia, director of Servotech Power Systems, said.
Servotech Power Systems has been at the forefront of developing advanced tech-enabled EV charging solutions. Its continued focus on providing sustainable energy options highlights its commitment to fostering an environment conducive to the growth of electric mobility in India.
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