Shares of Servotech Power Systems extended their gains for a second straight session on Wednesday after the company secured a solar rooftop project order in Madhya Pradesh.
The stock rose 4.5 percent to an intraday high of Rs 154.48 on the NSE. It later trimmed gains and was trading 1.35 percent higher at Rs 149.72 around 3:15 p.m.
The rally followed an exchange filing in which the company said it has received an order for an approximately 16 MW on-grid solar rooftop project from Madhya Pradesh Urja Vikas Nigam Ltd., under the Department of New and Renewable Energy. The project will be executed across various locations in the state.
Earlier this month, the company had secured a solar rooftop order from the Northeast Frontier Railway.
For the quarter ended March 2025, Servotech Power Systems reported a net profit of Rs 7.79 crore, up 127 per cent from Rs 3.42 crore in the year-ago period. Revenue from operations rose to Rs 146 crore during the quarter.
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