Servotech Renewable Power System share price jumped more than 9 percent in the early trade on June 4 following the company received solar rooftop project from the Northeast Frontier Railway.
At 09:35am, Servotech Renewable Power System was quoting at Rs 161.25, up Rs 13.99, or 9.50 percent, on the NSE.
" .... has been awarded a significant order for a 7.8 MW grid-connected solar rooftop project by the Rangiya Division of the Northeast Frontier Railway. The order, valued at Rs 336 Million, also includes a comprehensive 5-year annual maintenance contract (AMC)/comprehensive annual maintenance contract (CAMC) for various buildings within the Rangiya Division," company said in its press release.
The contract included design, supply, installation, testing, and commissioning of grid connected rooftop solar power plant consisting Monocrystalline Panel, inverter with remote monitoring system including SIM at various sites of Rangiya division which also includes a comprehensive 5-year annual maintenance contract (AMC)/Comprehensive
The installation of 7.8 MW of solar capacity will significantly contribute to the Northeast Frontier Railway’s sustainability initiatives and reduce its carbon footprint by harnessing clean, renewable energy.
Catch all the market action on our live blog
On June 3, the company's shares surged 19 percent amid Errol Musk, the firm's global advisor, India visit.
Errol Musk was appointed to the Global Advisory board of the company in May this year.
"Under this landmark partnership, Musk will play a pivotal role in advancing Servotech's strategic vision for global growth, sustainability leadership, and AI-driven innovation. His appointment aligns with Servotech's ambitious "Vision 2027" goal to transform the renewable energy landscape across India and key international markets," the company had said while announcing his appointment.
The company had reported a net profit of Rs 7.79 crore in the fourth quarter of the financial year 2025, rising 127 percent from the Rs 3.42 crore net profit reported in the corresponding quarter of the financial year 2025.
The firm’s revenue from operations had also risen to Rs 146 crore during Q4 FY25.
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!
