Shares of Power Mech Projects rise on bagging orders worth Rs 2,192 crore
Power Mech Projects has maintained its momentum and delivering a return of 113.34% in one year and over 350% in two years
Power Mech Projects has received orders worth Rs 2,192.41 crore. The first order is for Revival and Operations and Maintenance (O&M) services at a coal-fired power plant consisting of 2x150 MW (Phase-1) and 2x350 MW (Phase-2) Sub-Critical Units located at village-Thamminapatnam, District Tirupati, Andhra Pradesh from Meenakshi Energy for Rs 674.81 crore.
The second order is for the Mining of river bed minerals (RBM) located in the river bed of Dehradun, Haridwar, Udham Singh Nagar, and Nainital Districts for Rs 1,517.60 crore. This Contract would be executed through a special purpose vehicle to be incorporated for the same.
Share Price Movement
Power Mech Projects closed at Rs 4289.05, up by 144.45 points or 3.49% from its previous closing of Rs 4144.60 on the BSE. The scrip opened at Rs 4193.40 and has touched a high and low of Rs 4457.20 and Rs 4141.35 respectively. So far 11044 shares were traded on the counter.
The BSE group ‘A’ stock of face value Rs 10 has touched a 52-week high of Rs 5062.25 and a 52-week low of Rs 1571.20. Last one week’s high and low of the scrip stood at Rs 4457.20 and Rs 4072.65 respectively. The current market cap of the company is Rs 6793.55 crore. The promoters holding in the company stood at 64.05%, while Institutions and Non-Institutions held 18.69% and 17.26% respectively.
Power Mech, a company with over two decades of experience, has undertaken various projects in India and abroad, including Ultra Mega Power Projects, Super Critical Thermal Power Projects, Sub Critical Power Projects, Heat Recovery Steam Generators, Circulating Fluidized Bed Combustion Steam Generators, Gas Turbine Generators, Hydro Electric Projects, Operation & Maintenance of running plants, and entire civil works for power plants.
The company has established a niche in power generation, covering various segments including erection, testing, commissioning, operation, maintenance, repairs, overhauling, renovation, and modernization.
Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.