Servotech Renewable Power System shares surge 14% following this update – Check details
Shares of NSE-listed Servotech Renewable Power System gained over 14 per cent today after the company shared details about the new order win. The counter started the session in green and opened at Rs 150.40 against the previous close of Rs 147.26. Later, it surged to touch a high of Rs 168.50, a gain of 14.42 per cent from the last closing price. Last seen, it held firmly in green at Rs 162.80 with a gain of 10.55 per cent.
The counter’s 52-week high is Rs 205.40, and its 52-week low is Rs 75.50. The company’s market cap is Rs 3,657.23.
Servotech Renewable Power System win order worth Rs 33.6 crore
The home-grown EV-chargers company has informed exchanges that it has secured an order worth Rs 33.6 crore from Rangiya Division, Northeast Frontier Railway for a grid-connected solar rooftop project.
“We are pleased to inform all our stakeholders that the company has secured a prestigious order for a 7.8MW grid-connected solar rooftop project from the Rangiya Division of the Northeast Frontier Railway,” said the company.
The order involves designing, supplying, installing, testing, and commissioning a grid-connected rooftop solar power plant. The company informed exchanges that the order needs to be executed within six months from the date of issue of the letter of acceptance (LoA).
Servotech Renewable Power System Share Price History
The stock has given a multibagger return of 6,333 per cent in five years and 104 per cent in one year. However, it has corrected around 3 per cent on a YTD (year-to-date) basis.
Servotech Q4 Results
Earlier, the company posted a two-fold rise in net profit to Rs 7.71 crore in the March quarter, driven by higher revenues.
It reported a net profit of Rs 3.45 crore in the January-March period of the preceding 2023-24 financial year. The company’s revenues increased 8 per cent to Rs 147.46 crore in the fourth quarter from Rs 136.65 crore in the same period last fiscal year.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
