Servotech shares gained more than 7 percent intraday on securing order for a 7.3 MW on-grid rooftop solar project from the North Western Railway, Jaipur Division.
Shares of the company surged to an intraday high of Rs 133.90 per share on the NSE, up 7.44 percent intraday. The stock, however, later pared some of the gains to quote at Rs 129.29 apiece, up nearly 4 percent at around 3 p.m.
The company in an exchange filing, said "the project carries a total value of Rs 28.84 crore and marks yet another milestone in Servotech’s journey of driving India’s clean energy
transition."
The company will be responsible for the end-to-end execution of rooftop solar PV systems. This includes the design, manufacturing, supply, installation, testing, and commissioning of solar plants of varying capacities across multiple sites within the Jaipur Division, it said in a regulatory filing.
"The initiative aligns with the Indian Railways’ ambitious sustainability agenda, which focuses on reducing dependency on conventional energy sources and significantly cutting carbon emissions through renewable energy integration," it added.
Sarika Bhatia, Director, Servotech Renewable Power System Ltd. said, "We remain deeply committed to offering cutting-edge solar solutions that not only meet but
exceed performance expectations, contributing towards Indian Railways’ vision of sustainable and eco-friendly operations."
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