Servotech Renewable Power System share price in focus: Shares of Servotech Renewable Power System (formerly Servotech Power Systems Ltd.), a manufacturer of EV chargers, solar products, and power backup solutions, jumped 3% on Tuesday, November 25, reaching 98.50 apiece.
The rally came after the company informed investors through a regulatory filing that it has been granted a patent by the Indian Patent Office for its latest breakthrough innovation titled “System and Method for Charging an Electric Vehicle.”
According to the company, this patented technology marks a major advancement in India’s EV charging landscape, addressing one of the industry’s most persistent compatibility challenges.
The innovation enables seamless charging of GBT-based electric vehicles using CCS2 DC fast chargers. As the ecosystem rapidly transitions toward the CCS2 standard, a significant number of vehicles, especially older fleets, continue to operate on GBT charging technology.
Servotech said its patented device acts as a smart converter that, when connected to a CCS2 charger, allows GBT vehicles to charge safely, quickly, and efficiently.
If further added that the system has undergone successful trials on select GB/T-enabled EV buses and commercial EV cabs, demonstrating excellent performance and reliability and it is now exploring wider deployment opportunities across fleet operators, public transport networks, and commercial charging hubs.
Commenting on this development, Arun Handa, Chief Technical Officer of Servotech Renewable Power System Ltd., said, “Being awarded this patent is a proud moment for Servotech. It reflects our deep-rooted focus on solving real industry challenges with practical, scalable innovations.”
Stock remains under pressure since June
The company’s shares have been receiving severe beating from Dalal Street investors since June, crashing 43% from their recent highs. After closing three out of the last four months in losses, the sell-off further deepened in the current month, with the stock losing another 20.75%.
This has taken its year-to-date decline to 42.5%. If it holds the same momentum in the coming weeks, it will mark its first yearly drop since 2019 and the biggest calendar-year fall in five years.
Even as the short-term trend appears weak, the stock’s long-term performance still looks impressive, as it is higher by 4109% in the last five years.
Between 2020 and 2024, the stock enjoyed a sustained bull run, closing all those calendar years higher and delivering a massive return of 22,420%.
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