Power Mech Projects soars on receiving orders worth Rs 1,034.13 crore
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Power Mech Projects is currently trading at Rs. 1937.10, up by 94.40 points or 5.12% from its previous closing of Rs. 1842.70 on the BSE.
The scrip opened at Rs. 1800.05 and has touched a high and low of Rs. 1976.65 and Rs. 1800.05 respectively. So far 6834 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 2410.00 on 08-Dec-2022 and a 52 week low of Rs. 805.15 on 30-Mar-2022.
Last one week high and low of the scrip stood at Rs. 2245.00 and Rs. 1800.05 respectively. The current market cap of the company is Rs. 2887.51 crore.
The promoters holding in the company stood at 63.69%, while Institutions and Non-Institutions held 14.36% and 21.94% respectively.
Power Mech Projects has received Letter of Award (LOA) for three separate orders worth Rs 1,034.13 crore. The first order is for Execution of retrofitting of Flue Gas Desulphurisation (FGD) System from Adani Group for its thermal power plants located at Mahan (Madhya Pradesh), Raigarh (Chhattisgarh), Raipur (Chhattisgarh) ranging between 600 MW to 685MW worth Rs 608.00 crore.
The Second order is for Setting up of Wagon Repair Workshop at Kazipet, 306.60 Telangana, on EPC mode. The order is for Rs 306.60 crore. This project is awarded to Power Mech- Taikisha JV, a Joint Venture of Power Mech Projects and Taikisha Engineering India (with 65.83 and 34.17 sharing). The Third order is for Providing Technical Expert, Rotary Technicians & Operation and Maintenance Services for CPP and related utility including Central Control Room for 8 x 34.5 MW' at Dangote Petroleum Refinery and Petrochemicals Project, Lagos, Nigeria. The contract period of this work is 24 months. The order is for Rs 119.53 crore.
Power Mech Projects is an integrated power infrastructure services company. The Company's operations include three business lines: Erection Works, Operation & Maintenance (O&M) Services and Civil Works.
